UK: The 68-bedroom Victoria Garden Hotel in London’s Paddington will undergo a refurbishment and repositioning to a four-star boutique property.
Overseas investors Prima acquired the hotel from Property Investment (Development) Limited. It was marketed by Colliers at a reduced asking price of around £20 million.
Originally two Victorian family homes, the site was converted into a hotel in the 1960s. Independent hotel management company Capilon Hotels will operate the new property.
Richard and Mark Breen from Capilon said: “We’re delighted to have secured this property with our partners Prima who recognise the strength of the London hospitality market. Westbourne Terrace offers that traditional London look, with the opportunity to create a modern boutique hotel experience for domestic and international visitors. It’s expected that we will be able to announce an official reopening next year.”
Colin Hall, director of London hotels agency at Colliers, who handled the sale, added: “The beauty of 100-102 Westbourne Terrace has always been the opportunity to acquire a solid, blank canvas hotel asset which is well located for all the main tourist destinations of central London, and also easily accessible for international travellers. The London market is definitely returning to upswing and we are seeing both international and domestic investment recognising the long-term strength of the capital’s hospitality market.”
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