The owners of a famous London hotel have put their freehold interest up for sale for around £200 million.
The 400 bed hotel close to and overlooking Hyde Park is a prime London property and Alex Hayward of Debutesq Group, who have listed the hotel, said “Although the hotel has seen substantial investment over the past two or three years and is enjoying strong occupancy levels, a great deal could be done to improve revenue performance and investment return”.
There are various reconfiguration opportunities which could enhance the property, including extending its 135,000 sq ft footprint.
Demand is strong for London hotels with occupancy rates increasing month on month and investor sentiment at its highest since the beginning of the global financial crisis.
Hotel values in London and other prime European cities have increased substantially in recent years with strong interest from wealthy Chinese investors and Sovereign wealth funds in the Middle East.
Last year, a Middle Eastern basted private investment group paid over £300 million for a leasehold interest in the 447 bed Inter Continental on Park Lane representing an increase in book value of 62% since the end of 2012.
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