A former Victoria Garden hotel at 100-102 Westbourne Terrace, London, UK, is set to be transformed into a new boutique four-star hotel.
The 68-bedroom hotel will be put through a major refurbishment programme after it was acquired by Singaporean investors Prima.
The acquisition was facilitated by Colliers' specialist hotels team on behalf of property investments (development). Colliers London Hotels Agency director Colin Hall handled the sale.
Hall said: “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 the upswing and we are seeing both international and domestic investment recognising the long-term strength of the capital’s hospitality market.”
The 26,000ft² property was originally two large Victorian family homes before its conversion into a hotel in the 1960s. Despite the changes, the hotel has retained its 1840s façade.
It is situated close to Hyde Park, the shopping districts of Marylebone and Mayfair, and London’s West End, along with easy access to Paddington Underground station.
Capilon officials Richard and Mark Breen, who will operate the hotel, 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.”
