Wed, 30 Nov 2011 | BUSINESS SALE
Jasminder Singh's Edwardian Group has made its second major hotel acquisition in one month with the purchase of the New Providence Wharf hotel in Canary Wharf, London.
The purchase of the 169-bedroom, four-star hotel takes the privately owned hotel group's tally to 14.
The £37.5 million purchase comes just four weeks after its acquisition of the Grade II-listed Radisson Edwardian Free Trade Hall in Manchester. The group is believed to have paid more than the £37.5 million asking price for the 263-bedroom, five-star luxury hotel Free Trade Hall.
Both of the hotels have been operated under the Radisson Edwardian brand for at least four years.
Paul Mansi, Edwardian Group chief operating officer, told Caterer Search,“It also brings the hotel under our full control, which will allow us to broaden the scope of the hotel's offering in due course.
“The group is well positioned to make further purchases when interesting opportunities present themselves,” Mr Mansi added.
The New Providence Wharf hotel, which lies on the banks of the Thames, is ideally located close to the O2 Arena and London City Airport.
The Edwardian Group also operates a management contract at the Radisson Edwardian Guildford, which has just opened.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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