Boundary House in London has been acquired by Austrian Hoteliers, Rudolf and Christian Ploberger from GR Properties UK for approximately £31m.
Hotel agents Gerard Nolan & Partners sourced the property for their clients as a potential mixed-use development comprising a proposed 300-bedroom hotel with serviced offices.
The development was expected to attract guests working in the City who will need short term accommodation in a post-Covid environment, whilst leveraging on its proximity to landmark tourist attractions, such as the Tower of London and Tower Bridge.
Boundary House is the Ploberger’s second investment in the capital, having previously owned Bow Street Magistrates Court, Covent Garden which was sold in 2016.
Specialist asset manager C1 Capital has been appointed by the Ploberger’s to oversee delivery of the project. Kristian Dijkstra, Managing Director of C1 Capital, said “Boundary House offers a unique opportunity to create a mix-use development capitalising on the building’s central and convenient location for both corporate and leisure guests. We look forward to working with the Ploberger family to bring this exciting development to fruition. “