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UK: Global investment manager OneIM has launched a £335 million investment strategy to expand its presence in London, delivered in partnership with Lifestyle Hospitality Capital and AENDRE.
The joint venture will focus on acquiring and converting underutilised assets in the UK capital into lifestyle extended stay and aparthotel properties.
Its first acquisition reportedly includes the central London portfolio of The Other House from APG. The brand includes a 237-room asset in South Kensington, a 146-room scheme in Covent Garden, and planning consent for a third site in Belgravia.
The transaction would mark OneIM’s London debut and supports plans to expand The Other House across the city.
Last month, former CEO of The Other House Naomi Heaton stepped down to assume the role of executive chair of LCP Private Office, which launched The Other House concept in partnership with APG in 2019.
In February 2025, Bloomberg reported that APG had appointed Eastdil Secured to evaluate a recapitalisation of its stake in The Other House, or a potential sale.
Highlights:
- OneIM launches a £335 million London hospitality investment strategy focused on converting underutilised buildings into lifestyle extended-stay and aparthotel properties.
- OneIM partners with Lifestyle Hospitality Capital and AENDRE to deploy capital into the London extended-stay hospitality market.
- First deal acquires The Other House London portfolio from APG Asset Management, including a 237-room property in South Kensington and a 146-room scheme in Covent Garden.
- A third The Other House development is planned in Belgravia, expanding the lifestyle aparthotel brand’s footprint in central London.
- Naomi Heaton transitions from CEO of The Other House to executive chair of LCP Private Office, the platform that launched the concept with APG in 2019.
