Hotel redevelopment opportunity in London

United Kingdom

Hotels & Resorts

£27.500.000

1 Mar 2019

253

Property Details

#253

26700 sq.ft.

Freehold

No management

1

1850

X

Fees

2.00 %

0.00 %

1.80 %

0.00 %

0.20 %

Investment Overview

Hotel redevelopment opportunity in the heart of Bayswater. The Former Averard Hotel is located at the Eastern end of Lancaster Gate and at the end of a terrace of substantial period buildings. Built in English Baroque with French mannerist touches in the 1850s. The former 60 room freehold hotel opened in 1925 and contains two white stucco fronted, seven storey grade II listed buildings located within the Bayswater Conservation Area. Hotel was acquired with the view to complete a full refurbishment programme, however, the development has been placed on hold and the works not undertaken at this point. The hotel is well situated in a prominent location on Lancaster Gate with partial views through to the Bayswater Road and towards Hyde Park. The hotel is located on the northern side of Lancaster Gate on the junction with Craven Terrace. The hotel benefits from exceptional connectivity being within close proximity to Lancaster Gate underground station providing Central Line services into Central London. Key features: • Hotel redevelopment opportunity in the heart of Bayswater • In close proximity of Hyde Park and Kensington Palace • Gross internal area of c.26,700 sq ft • Freehold • Previously approximately 60 bedroom hotel • Built in the 1850's

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Market data