Pinsent Masons advises on £230m plus Penta Real Estate and Staycity Group London aparthotel joint venture
03 Nov 2026 | 03:03 pm | 1 min. read
Multinational law firm Pinsent Masons has advised Penta Real Estate on its investment into a landmark £230 million-plus joint venture with Staycity Group and advised the joint venture on the financing arrangements for the development, which will deliver a 350-room Wilde aparthotel in the heart of London's Farringdon district.
The transaction sees Penta Real Estate and Staycity Group establish an 80:20 joint venture to fund the redevelopment of the Morley House site near Holborn Viaduct. The project will deliver a new 11-storey Wilde-branded aparthotel alongside commercial space and the refurbishment of the Grade II listed City Temple Church. Construction is expected to commence shortly, with completion anticipated in 2029.
The core team comprised Tim Webb (Lead Partner), Jon Blackburn (Corporate), Ian Warner (Funds), Catherine Howe (Finance), Andrew McCarthy (Tax), Emma Maher (Real Estate), Danielle Clifford (Commercial) and Kofi Atta (Construction). They were supported by Louise Blair and Scott Cooper (Corporate), Yasmin Cunningham (Finance), Elizabeth Budd and Ben Pattinson (Funds), James Kane and Tai Nguyen (Real Estate), Emma Hargreaves (Planning) and Ioana Chiva (Commercial).
Pavel Streblov, Country Managing Director, Penta Real Estate, said: "This transaction is an important milestone for Penta Real Estate and a significant step in the growth of our London business. Pinsent Masons were exceptional throughout and brought deep expertise, commercial judgement and an unwavering commitment to getting the deal done. Their agility, pragmatism and solutions-focused approach throughout the process were instrumental in achieving a successful outcome."
Tim Webb, Partner at Pinsent Masons, said: "This is a landmark transaction that demonstrates London's continued appeal to international capital and the growing convergence between real estate investment and hospitality platforms. Requiring close collaboration across multiple disciplines and jurisdictions, we were pleased to support Penta Real Estate and the JV in delivering a highly sophisticated and strategically important deal. We look forward to seeing the Morley House scheme become a significant new destination in Farringdon."
The project will be developed by the joint venture with Altius Real Estate acting as development manager and will provide high-quality hospitality accommodation in one of London's fastest-growing commercial districts. The ground floor will include a café, bar and co-working space open to both guests and the wider public.
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