BNP Paribas REIM France acquired this asset on behalf of PFA Pension as part of a new separate account targeting residential buildings.
According to Knight Frank's "The Wealth Report 2023" resorts outperformed.
The transfer of the shares will take place upon completion of the development of the office complex.
Concerns about the resilience of the office building industry have grown since the start of the pandemic.
Despite an unstable economic climate, the decision-makers in the real estate sector maintain their confidence in the regional centres.
In the aftermath of the pandemic and during the current inflationary period, affordable, net zero housing has become a major issue across the world.
A range of notable people have stayed at The Queens Hotel, including actor Cary Grant and Nelson Mandela.