The overhaul will preserve the hotel’s original Georgian architecture. Credit: Prima Asset Management/PRNewswire.

Prima Asset Management, a Singapore-based real estate asset management company, has acquired the freehold Prime Hotel located in the Paddington area in London.  

Financial details of the transaction remain undisclosed. 

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The acquisition is part of the company’s aim to enhance its presence across the UK, through the VCC Investment Fund managed by First Degree Global Asset Management. 

Funded by OakNorth Bank, and in collaboration with London-based property operator and developer Capilon Group, Prime Hotel is poised for a revamp.  

This overhaul would increase the number of rooms from 68 to more than 80, with an anticipated end value of S$70m ($51.73m). 

The refurbishment aims to enhance the hotel’s offerings while preserving its original Georgian architecture.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Prima Asset Management co-founder and CEO Ben Hall said: “With our proven track record in identifying and structuring unique risk-adjusted real estate investment opportunities, the strategic acquisition of this prime property not only signifies our focus on the resilient London hotel market but also positions us in one of London’s most attractive growing sub-markets.” 

Prima co-founder and partner Birbal Singh Bajaj said: “With London recording the second highest international tourism arrivals globally in 2023, we are confident in the long-term prospects the city has to offer as it remains an attractive and robust investment destination.  

“This investment resonates with us personally as it reminds us of our family’s continued interest and investments in the Singapore Shophouse market.”