BNP Paribas Real Estate (BNPPRE) has sold The Exhibitionist hotel in London for £10.6m (€12.3m) to an undisclosed buyer.

BNPPRE said it has sold the 37-bed freehold boutique hotel on Queensberry Place in South Kensington for 15% over its quoting price.

The property dates back to 1876 and formerly comprised two interconnecting Victorian townhouses arranged over lower ground, raised ground and five upper floors. The property became a hotel in the late 1980s and underwent extensive refurbishment in 2015.

Richard Talbot-Williams, senior director, hotels at BNP Paribas Real Estate, said: “Investor sentiment towards rarely traded prime London hotel assets has remained extremely robust and durable through the pandemic period, a time during which there has continued to be a very limited supply of ‘proceedable’ hotel investment opportunities.

“The competitive nature of the bidding for this prime townhouse hotel from both domestic and foreign buyers demonstrates a very high level of future confidence in the success of London hotels, in which we are great believers.”

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