London, UK (October 16, 2025) — Newmark has advised the seller, an international institutional investor, on the off-market sale of the DoubleTree by Hilton Docklands Hotel, London. The property has been acquired by a&o Hostels, backed by StepStone and Proprium Real Estate Partners. The transaction price remains undisclosed. The Newmark team included Marcus Kinsella, Head of UK Operational Hotels Agency, and Alex Foshay, Head of International Capital Markets.
Located in Docklands Riverside, the 378-bedroom hotel sits on the River Thames directly opposite Canary Wharf in the Southwark district.
As part of its expansion into the hospitality sector, the new owners plan to invest £21 million to transform the property into a modern hostel, a strategic repositioning opportunity identified by Newmark. Aligning with the growing demand for affordable and flexible accommodation, the investment reflects the increasing recognition of the hostel segment as a dynamic and fast-growing part of the wider hospitality market. In addition, a&o intends to offer guests complimentary access to an electric river cab service linking the property to Canary Wharf, enhancing strategic connectivity to the Elizabeth Line and improving access across London.
Marcus Kinsella, Head of Operational Hotel Agency at Newmark, commented: “We are delighted to have been involved in this strategic exit on behalf of our clients. We identified a key opportunity to strategically reposition the asset into hostel accommodation and placed it with a well-capitalised and ambitious counterparty. This transaction reflects the continued momentum and opportunity within the sector, which remains an exciting space for strategic investment.”
Pinsent Masons were lawyers for the seller in the transaction and comprised a team including Claire Hughes and Laura Shott (property) and Jon Blackburn, Jennifer White and Ross Mackenzie (corporate).
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
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