Lime Property Fund, a fund managed by Aviva Investors Global Services Limited acquired Premier Inn in West Smithfield from Whitbread PLC (LSE:WTB) for approximately £100 million in cash on January 12, 2017. Under the terms of the agreement Aviva Investors will pay an initial payment of £66 million on exchange and remaining payment will be made on completion of the hotel in December 2018. The hotel is leased back to Whitbread in a 25-year lease agreement. In a related transaction, M&G Secured Property Income Fund, a fund managed by M&G Investment Management Limited acquired Premier Inn hotel in Tothill Street from Whitbread PLC for approximately £100 million. The annual rent from Premier Inn in West Smithfield is £4.24 million. Proceeds from both the transactions are expected to be approximately £200 million. DWF acted as legal advisor while BNP Paribas Real Estate acted as real-estate advisor for Whitbread. David Allchurch of Tulchan Communications LLP acted as PR advisor for Whitbread. Lime Property Fund, a fund managed by Aviva Investors Global Services Limited completed the acquisition of Premier Inn in West Smithfield from Whitbread PLC (LSE:WTB) on January 12, 2017.