Aviva Investors European Real Estate Long Income Fund acquires Dublin hotel

3 June 2022

(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), announces that it has acquired a hotel building currently under construction in the heart of Dublin, Ireland, on behalf of its European Real Estate Long Income (E-RELI) Fund.

The property, which is scheduled for completion at the end of 2022, occupies a prominent corner site position within the Dublin 2 postcode. It has been pre-let to Premier Inn under a long-term lease. 

Located at the junction of Gloucester Street and Princes Street South, the property is within the South Docklands business district of the city centre, is well served by public transport and, from a leisure perspective, is located within walking distance of Trinity College, Temple Bar, O’Connell Street and most of the city’s main leisure attractions.

Isabel Gossling, Co-Fund Manager of the European Real Estate Long Income Fund at Aviva Investors, said:

“We are pleased to have secured such a high-quality asset in a prime location within this dynamic city, and to be working with Red Rock Developments in delivering the project to a best-in-class operator such as Premier Inn. In line with the overall strategy of the Fund, we expect this asset to provide investors with consistent long-term income which is underpinned by an investment-grade covenant and, importantly, linked to inflation. Current market conditions are reinforcing investor demand for assets of this nature, which we expect will continue to grow over the course of this year.”

David Carroll, Chief Investment Officer at Red Rock Developments, said:

“It has been a pleasure dealing with Aviva Investors’ European Real Estate Long Income Fund on their first transaction in Ireland which we hope will deliver secure long term returns for their investors.  The Gloucester Street building is a unique asset offering inflation linked long term income, a FTSE listed occupier/operator, and delivering the requisite ESG credentials required by long income investors.  We look forward to completing the development later this year.”

Aviva Investors was advised by JLL. Red Rock was advised by Fergus O’Farrell of Savills and Byrne Wallace Solicitors. 

For more information contact:

James Morgan

Media Relations Manager

Steve Ainger

Head of Media Relations

Important information

THIS IS A MARKETING COMMUNICATION

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”). Unless stated otherwise any opinions and future returns expressed are those of Aviva Investors and based on Aviva Investors internal forecasts. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Past performance is not a guide to future returns. 

The information within this document is based on our current understanding of taxation and is not to be construed as investment, legal or tax advice. The basis and rates of tax may change in the future. Some of the information within this presentation is based upon Aviva Investors estimates. These should not be relied on by anyone else for the purpose of making investment decisions. This document should not be taken as a recommendation or offer by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. 

Where funds are invested in real estate/infrastructure, investors may not be able to switch or cash in an investment when they want because real estate/infrastructure may not always be readily saleable. If this is the case we may defer a request to switch or cash in units. Investors should also bear in mind that the valuation of real estate is generally a matter of valuers’ opinion rather than fact. 

European Real Estate Long Income Fund “E-RELI” SCSp, is a Luxembourg special limited partnership. Accordingly, units in E-RELI are reserved to Institutional Investors and Well-Informed Investors who are aware of the risks attaching to an investment in a fund investing in direct or indirect interests in real estate.  The representative and paying agent of the fund in Switzerland is BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, 8002 Zurich, Switzerland (“BNP”). Copies of the fund documents, the prospectus, and the annual reports of the fund may be obtained free of charge from BNP. 

The Offering Memorandum/Prospectus of Aviva Investors funds are available together with the Report and Accounts free of charge by contacting us at the address below. 

Where relevant, information on our approach to the sustainability aspects of the fund and the Sustainable Finance disclosure regulation (SFDR) including policies and procedures can be found on the following link: https://www.avivainvestors.com/en-gb/capabilities/sustainable-finance-disclosure-regulation/

 Authorised and regulated by the Financial Conduct Authority (Firm Reference No. 1191780). In Europe this document is issued by Aviva Investors Luxembourg S.A. Registered Office: 2 rue du Fort Bourbon, 1st Floor, 1249 Luxembourg. Supervised by Commission de Surveillance du Secteur Financier. An Aviva company. 

Aviva Investors 

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with £268 billion in assets under management as at 31 December 2021.

Aviva Investors Global Services Limited
St Helen’s, 1 Undershaft, London, EC3P 3DQ 

Phone          +44 (0)20 7809 6000
Fax                +44 (0)20 7489 7940
Web             www.avivainvestors.com 
Email           info@avivainvestors.com

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.


Registered Office: In the UK this is issued by Aviva Investors Global Services Limited. Registered in England No. 1151805.  Registered Office: 80 Fenchurch Street, London, EC3M 4AE. Authorised and regulated by the Financial Conduct Authority. Firm Reference No. 119178.. Authorised and regulated by the Financial Conduct Authority and a member of the Investment Association.


Telephone calls may be recorded for training and monitoring purposes.