Slovakia’s JTRE is understood to have beaten off competition from Lincoln Property to acquire the Aldgate development site being sold by 4C Hotel Group and Transport for London.
The site, close to Aldgate Underground station, has planning permission for a 14-storey, 220,000 sq ft office building.
It is located on 4C’s 500,000 sq ft Minories Estate scheme, EC3, where the firm is turning the existing 16 Minories into a Canopy by Hilton Hotel and delivering a 15-storey residential building to provide 87 homes. The entire scheme has a gross development value of £300m.
It is believed that JTRE is paying more than the £45m for the site.
More than 10 bids were initially received for the central London plot of land, known as 60 Aldgate.
The other bidders linked to the potential £40m sale being conducted on behalf of 4C Hotels and TfL by Allsop included Great Portland Estates, Helical, Landsec and Nuveen.
JTRE declined to comment.
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