London calling

• Jastar Capital has acquired the Native Bankside aparthotel for £40 million from vendor Create REIT. The 75-unit building will continue to be managed by Native Places under a new long-term management agreement. In other London news, operator CitySpace has opened apartments in One West Point, the tallest building in the west of the capital.

The Bankside sale demonstrates how aparthotels, particularly in prime London locations, have gone from being a poorly understood niche to a mainstream hospitality asset class in a relatively short period of time. Not only are we seeing institutional investors such as Aviva and Union Investment getting involved in the space, but overseas hospitality companies including Dorsett and E & O have planted their flags in London.