City law firm, GSC Solicitors LLP is delighted to announce that it advised longstanding client Queensway in the £420M acquisition of a majority holding in Raag Hotels Limited which owns Point A Hotels, by Tristan Capital Partners’ European Property Investors Special Opportunities 6 (EPISO 6) Fund. Queensway will remain a minority partner but with management and development responsibility.
The Point A portfolio comprises 1,520 rooms in 10 hotels, with 80% of its value in London and in Glasgow, Edinburgh and Dublin. Under the new partnership, Queensway will co-invest and act as hotel operator, asset manager and development partner for future sites.
Commenting on the transaction, Lead corporate partner Clive Halperin/Peter Belcher, Head of GSC’s Hotel & Leisure team said: “We were delighted to assist our longstanding client Queensway in respect of this complex matter. Under Queensway’s management, the Point A Hotels brand has developed a high-quality product at great value. We look forward to assisting our client further with its expansion plans in the future.”
Naushad Jivraj, CEO, Queensway said:
“GSC Solicitors has acted for Raag Hotels since its inception in relation to all seven London properties. We, at Queensway, are pleased to have been supported by them to form this new partnership with Tristan Capital Partners. We are excited by the next chapter of the Point A Hotels story as we, together with Tristan, continue to develop our product, brand and service to the ever-evolving needs of our guests.”
The Tristan EPISO 6 fund was advised by BCLP, Maples, Brodies, PWC, Savills, Artelia and Longevity.
Raag Hotels was advised by CBRE, Eastdil, Derek Gammage, DLA Piper, BDO and Voisin Law.
Queensway was advised by GSC Solicitors.