CBRE Hotels sets deadline for Central London hotel dev sites

CBRE Hotels has set an October 17 deadline for offers for both the InterContinental Westminster and the Hilton Southwark development sites in Central London.

The InterContinental London Westminster, currently under construction, offers investors the opportunity to acquire a freehold central London five-star hotel. The project with an estimated value on opening of £155 mln (EUR 179 mln) requires around £37 mln to complete.

'The level of interest to date has been considerable reflecting the demand for what can only be described as an incredibly rare opportunity to own a freehold, five-star luxury hotel,' commented Paul Bartrop, director of CBRE Hotels. 'We anticipate that the InterContinental hotel will establish itself quickly as one of the city's premier hotels and will perform strongly due to its outstanding location and high quality.'

CBRE Hotels is also marketing the Hilton London Southwark. This central London, freehold site complete with full planning permission has an estimated value of £110 mln and a cost to complete of £47 mln.

London's Bankside is currently undergoing significant regeneration, attracting increased numbers of tourists and major corporate companies.