News Release

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JLL advises on 10.25m sale of serviced apartments and restaurant in the heart of
City of London
Aviva Investors buy freehold of 19 serviced apartments and restaurant on India Street, EC3
LONDON, 18 August 2014 - JLLs Hotels & Hospitality group has advised on the sale of 19 boutique serviced
apartments at 8 India Street, EC3 with vacant possession and a ground floor restaurant investment on behalf of
owners Marldon, a specialist design and build partnership.
The sale reflects a price of approximately 500,000 per apartment, commensurate with residential values in the
area.
The apartments are located in the heart of the City of London, only a moments walk from major global financial
institutions such as the Bank of England, the London Stock Exchange and Lloyds of London. The flats have
been comprehensively refurbished and extended to provide a modern living space with contemporary high
quality fittings. The ground floor is occupied by a local restaurant operator and trades as the Rajasthan II.
8 India Street represents the fourth serviced apartment development by Marldon, who boast an impressive track
record of commercial and residential developments in central London, characterised by their design led
approach.
Will Duffey, Senior Vice President in JLLs Hotels & Hospitality group commented: This sale
demonstrates the considerable appetite for London serviced apartments from institutional investors. We expect
this trend to continue as the sector becomes more established as both a form of accommodation and an
investment asset class.
The sale of the asset was concluded before being officially launched to the market. A broad range of interested
parties, with particularly strong demand from serviced apartment operators looking to expand their presence in
the capital, approached JLL when we were appointed to sell the asset.
Research conducted by The Apartment Service Worldwide showed the London serviced apartment market to be
undersupplied with London having just 1.2 apartments per 1,000 business visitors compared to New York (5.2),
Hong Kong (5.3), Sydney (2.6) and Singapore (1.8).






JLL advises on 10.25m sale of serviced apartments and restaurant in the
heart of City of London






ends

Notes to Editors
Photograph of 8 India Street attached


Contact: Lauren Keith
Phone: +44 (0)207 852 4084
Email: lauren.keith@eu.jll.com

Contact: Will Duffey
Phone: +44 (0)207 087 5587
Email: lauren.keith@eu.jll.com

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking
increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries
worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion
square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business,
LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.co.uk
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