Rare Opportunity to Develop 110 Room Five-Star Hotel plus Residences as JV With Current Owner – Heart of Westminster, London
Location: Great George Street SW1, Heart of Westminster, overlooking St James’s Park
Name: Open to JV partners
Guide Price: Call THPT
Guide Price per Key: Dependent on quality of scheme chose
No. of Keys: Either 134 rooms consented, or 110 larger rooms with pool, spa etc – both with restaurant, bar and gym…or 83 Serviced Apartments
The Opportunity:
This is a once in million opportunity. The current owners of this 55,000 NIA sqf (77,500 sqf GIA) office building have planning consent to convert to a full-service hotel between 110 and 134 rooms depending on the level of standard required…in our opinion, one would go for the smaller room count to make 110 rooms, full spa with pool, internal courtyard and exclusive restaurant and lounge/bar at ground floor level. The scheme has been prepared by Dexter Moren, one of London’s leading hotel design houses.
The property is available with immediate vacant possession. The current owners, a major reputable fund, whilst maybe considering an outright sale, would prefer to find a hotel operator or investor to partner with on a 50:50 JV basis. Planning permission is in place, which includes building a new eighth floor with magnificent views of London, St James’s Park, Pall Mall. Dexter Moren have drawn up a further alternative scheme for 83 serviced apartments – 45 studios and 38 one-bedroom apartments.
There is also options to keep it as offices, or 21 two and four bedroom residential apartments.
Flag & Management: Free to JV partners
Current Owner: A major UK fund
Main Photo: The frontage of this property
Financials: Business plan and design layouts available after EOI
Tenure: Freehold
Agent: This is out with two major agencies, so the buyer would need to retain THPT, who can add serious value to, particularly and overseas buyer
Date Posted: February 2022
THPT Comment: Once can think of many deluxe London hotels that this property would compete with…The Stafford, Dukes, Beaumont, Athenaeum and Capital just to name a few. A must-look for any aspiring hotel investors looking for top-location London.
Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each week we mail the opportunities posted in that period, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all.
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market. For more information – Visit www.thpt.co.uk or email [email protected]
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.
