Mon, 06 Sep 2010 | BUSINESS SALE
A hotel situated on a prime London site has come onto the market, offering considerable potential for development.
The former Leinster Inn Hotel, which occupies six adjoining Grade II-listed townhouses in the middle of a 19th century terrace in Bayswater, London, is hunting for buyers.
The 122-bedroom hotel, which is owned by Carven Properties, has operated for many years as a hostel aimed at the backpacker market but has recently ceased trading prior to its sale.
The location is one of the building's biggest selling point – it is within walking distance of Notting Hill, Hyde Park, Marble Arch and Kensington Palace as well as many famous museums and galleries.
It offers a gross internal area of approximately 31,500 sq ft and has a number of communal areas and huge development potential to create a luxury hotel befitting its prime central location.
David Creamore, director at Christie + Co, who is marketing the property for sale on an unencumbered basis, said, “The fact that London continues to outperform many other European capital cities, makes it an attractive investment location for UK and overseas buyers.
“This is a rare opportunity to acquire substantial freehold properties in central London with extensive development potential,” he added.
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