SACO Acquires London and Dublin Sites for Locke Aparthotel Projects

Date: August 2018

Location: Tower Bridge Road, London and North Wall Quay, Dublin, Ireland

Name: Bermonds Locke (London) and Beckett Locke (Dublin)

No. of Keys: 142 – 99 studios and 43 one bedroom apts – London and 241 – 138 studios, 71 one bedroom and 31 two bedroom apts – Dublin

Seller:

Buyer: Saco Property Group. A site on Tower Bridge Road site will be developed in to Bermonds Locke, which is due to open in Spring 2020. It will have all-day dining with outdoor seating, a coffee shop, cocktail bar, co-working facilities, two meeting rooms and a gym.

The site is named after the original spelling for Bermondsey, meaning “dry ground in a marsh”. The shell and core will be delivered by Galliard Construction.

A 141,000 square foot site on North Wall Quay, adjacent to the 3Arena in Dublin, will be called Beckett Locke. It will have all-day dining with outdoor seating, a cocktail bar, a coffee shop/deli, co-working facility and gym.

The site, due to open in winter 2020, is named after Samuel Beckett, the Irish novelist and playwright. It will be delivered by Bennett Construction.

Eric Jafari, SACO Property Group’s managing director, said: “Brookfield’s and our aspiration is to significantly increase the size of our portfolio over the course of the next five years through the acquisition of development opportunities across Europe.

We continue our hunt for the right development opportunities across Europe and are hopeful to make a few more exciting announcements within the very near future.”

THPT Comment: Good to see SACO on the march with these two new Locke venues…the first since the acquisition by Brookfield?

First Seen: Serviced Apartment News