Mon, 05 Oct 2015 | BUSINESS SALE
Kensington Close Hotel, one of the biggest hotels in England's capital, has been put up for sale.
Owned by Kurdish businessman Bakir Cola, the hotel boasts more than 708 rooms and is located close to High Street Kensington close to a tube station.
Reports from The Times have revealed that it is being marketed for sale at an estimated price of offers over £350 million. This would net Mr Cola a multimillion-pound profit.
Savills and CBRE are understood to have been appointed to sell the hotel after Mr Cola acquired the freehold to the property back in 2002 for £70 million in a purchase from InterContinental Hotels Group.
Kensington Close Hotel was given an extensive refurbishment at the cost of £45 million in 2012, helping to modernise the accommodation and its 12 meeting rooms.
The hotel's current owner, Mr Cola, is a Kurd who left his native Iraq when Saddam Hussein came to power. He then founded Cola Holdings and took ownership of several luxury hotels. In addition to Kensington Close, the company has owned Kingsway Hall and The Westbury.
EY's global hospitality report, released at the beginning of 2015, suggested that 2015 would be a strong year for the industry thanks to growth and increasing levels of innovation and demand. In conjunction with this, M&A activity in the sector has seen solid year-on-year growth and is expected to continue at a healthy rate.
View other hospitality businesses for sale.
Beautifully presented restaurant in Cardiff. Affluent trading area. Run under management. Stunning premises, beautifully presented throughout. Offers invited.
Peak District/Stockport Postcode Area. Very well-established Private Family Dental Practice. Excellent high street location and with good transport links. Offers invited.
LEASEHOLD
Prominent Town centre location. Imposing detached property. Newly refurbished in 2015. Customer seating for 110. High end fixtures and fittings. Offers invited.
|
03
|
|
Jun
|
28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE
28 Oddbins stores will remain open after the off-licence ret...
|
02
|
|
Jun
|
Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY
Tile retailer Topps Tiles has agreed the £18.1 million...
|
01
|
|
Jun
|
Aldo UK falls into administration | ADMINISTRATION
Footwear retailer Aldo UK has entered into administration du...
Sign up to receive our acquisition alert emails to get your FREE guide
|
03
|
|
Jun
|
28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE
28 Oddbins stores will remain open after the off-licence ret...
|
02
|
|
Jun
|
Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY
Tile retailer Topps Tiles has agreed the £18.1 million...
|
01
|
|
Jun
|
Aldo UK falls into administration | ADMINISTRATION
Footwear retailer Aldo UK has entered into administration du...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources