Christie + Co has announced it has brokered the sale of Park Inn Hyde Park, London on behalf of Gresham Hotel Group. The name of the buyer and the investment volume was not disclosed but the proeprty adviser said it sought offers in excess of £35 mln (EUR 42 mln).
Christie + Co has announced it has brokered the sale of Park Inn Hyde Park, London on behalf of Gresham Hotel Group. The name of the buyer and the investment volume was not disclosed but the proeprty adviser said it sought offers in excess of £35 mln (EUR 42 mln).
Located at 66-71 Lancaster Gate, W2, opposite Hyde Park, the 188-bedroom hotel has long been established as one of the highest profile hotels in this increasingly fashionable part of central London. The freehold property has benefited from London’s ongoing strong trading performance which is due to continue as the capital prepares for the 2012 Olympic Games.
Jeremy Jones, director at Christie + Co, said: 'Following on from the sale of the Park Inn London, Russell Square this sale is further evidence that there is huge demand for true central London hotels from well-funded buyers. Interest for this hotel came from a variety of investors and operators. The upshot of this deal is that we have a variety of well-funded bidders who are keen to secure substantial central London hotels.'
