OneIM launches £335m London hospitality JV, acquires The Other House from APG

OneIM's London entry marks one of the most significant extended-stay hospitality investments in the UK in early 2026. The JV acquired the entire The Other House branded portfolio from APG, which had originally backed the concept from inception in 2019 with LCP Private Office. The platform includes operational assets in South Kensington and Covent Garden plus a Belgravia development site, positioning the JV to expand the brand across London. The wider £335 million strategy targets further asset conversions, reflecting strong structural demand for hybrid hotel/residential formats from long-stay travellers. OneIM (global investment manager; London market debut); Lifestyle Hospitality Capital (lifestyle hospitality operating expertise); AENDRE (conversion and adaptive reuse specialist for London and European cities); APG Asset Management (Dutch pension fund asset manager; seller). JV financing details not publicly disclosed. The £335 million represents the total investment strategy, including acquisition and forward capital deployment.