Prima Asset Management and Schwartz Family Company Unite for London Hotel Revamp
In a significant move, Singapore-based Prima Asset Management has joined forces with Australia’s Schwartz Family Company to redevelop a hotel in London’s Paddington area. This partnership marks a crucial step in Prima’s UK expansion strategy, bolstered by Schwartz Family Company’s impressive portfolio of 15 hotels and over 4,300 rooms across Australia.
A Meaningful Investment
Schwartz Family Company director Jerry Schwartz expressed his enthusiasm for the project, citing a deep connection to the area where he spent part of his early life. “Prima’s vision for this project aligns perfectly with my passion for creating sustainable, modern hospitality spaces,” he said. This investment not only strengthens Prima’s presence in the UK but also paves the way for potential future collaborations.
Capitalizing on European Opportunities
As part of its growth plans, Prima aims to continue seizing opportunities within Europe’s hotel market. The company’s investment strategy centers around acquiring and transforming Central London hotels, with the support of investment company Aurum Gravis. Prima CEO and co-founder Ben Hall emphasized the importance of value-add opportunities in Central London, stating, “By combining our in-house expertise with high-value partnerships, we are positioned to deliver sustainable long-term returns.”
Targeted Expansion
Prima’s commitment extends to targeted opportunities in the Purpose-Built Student Accommodation (PBSA) and Co-Living sectors across strategic UK locations, alongside Baksh Capital. The company’s recent acquisition of the freehold Prime Hotel in Paddington, London, demonstrates its dedication to enhancing its UK presence through the VCC Investment Fund managed by First Degree Global Asset Management.
A Strategic Alliance
The partnership between Prima Asset Management and Schwartz Family Company represents a significant milestone in the UK hotel market. With their combined expertise and resources, they are poised to deliver innovative, sustainable hospitality experiences that meet the evolving needs of travelers. As Prima continues to expand its presence in Europe, this alliance is expected to yield promising results for both parties involved.
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