Shiva Buys Marlborough Yard site, Poland Street, to Develop 150 Room Hotel
Date: June 2015
Location: 47-50 Poland Street
Name: Poland Street, Soho
CGI View looking South, Poland Street
No. of Keys: 150
Seller: Amazon Property, advised by Montague Evans and Michael Elliott
Buyer: Shiva Hotels, an independent family-owned hotel group, headed up by Rishi Sachdev, with nine hotels in London and one in York, including five under development! Mainly under brands such as Hampton by Hilton, DoubleTree by Hilton, Hilton and Best Western….2,000 rooms in all.
Price: £50m for the building/site
Price per Key: £333,333 before rebuild.
THPT Comment: Given planning was granted back in 2015, we are surprised this hotel is not yet open.
In October 2015 they asked Eastdil to advise on selling four hotels – Hampton by Hilton Waterloo and Gatwick and the DoubleTree by Hilton at London ExCel and Heathrow T5.
in 2018, Waterloo, ExCel and Heathrow T5 are still on their website, so we guess only Gatwick got sold.
In February 2016 they famously bought an NCP Car Park in Welbeck Street off LaSalle Investment for around £100m, to turn into a hotel and word was that the total cost for the development was £600m. There were some planning issues in August 2017, but not much news since then
First Seen: Property Week