German investor bags Notting Hill hotel

Deka Immobilien has bought the Ruby Zoe hotel in London’s Notting Hill Gate for €62m (£52.9m). It will be added to the portfolio of the open-ended real estate fund Deka‑ImmobilienMetropolen. The former retail and residential block was redeveloped into a 173-bedroom four-star hotel in May last year. The scheme was delivered by Frogmore, alongside co-investment partner Morgan Stanley, and forms part of a wider redevelopment scheme known as Notting Hill Gate Estate. The building is on track to be certified as BREEAM Very Good. Ruby Hotels is a Munich-based company that operates as Lean Luxury. The Ruby Zoe is the firm’s second hotel in London. CBRE advised Deka on the deal. Photo from Ruby Hotels