40 Eastbourne Terrace

Purchased with the adjacent 50 Eastbourne Terrace, 40 Eastbourne Terrace was an 82,000 sqft 1960’s office building, located immediately opposite the entrance to Paddington Station and the Elizabeth line. At acquisition the building was fully occupied until March 2021. Change of use to a hotel consent was secured and the project is due to complete in Q1 2024.

Following acquisition, the mechanical and electrical services that served both 40 and 50 Eastbourne Terrace were split, enabling early development of the adjacent site. A planning application was submitted in 2019 for a 366 mid-market hotel which was granted in November 2019. The scheme was then pre-let to Whitbread plc for a combined Premier Inn and hub by Premier Inn; the first time the two brands will operate for the same building. The investment was forward sold to USS in November 2021 and the hotel is due to open in Q1 2024.