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Reduced price for ‘blank canvas’ hotel opportunity in Westminster

08 09 21 Reduced price for blank canvas hotel opportunity in Westminster hero

Colliers is re-marketing a 68-letting bedroom hotel close to Paddington.


A rare opportunity to overhaul a hotel in the heart of London into modern, chic, boutique accommodation is being marketed by commercial real estate specialists Colliers. 

The former Victoria Garden Hotel, which was originally converted in the 1960s from two large family homes into a 68-letting bedroom hotel is on the market for the first time in its history. While still presenting its original 1840s period façade, 100 to 102 Westbourne Terrace, near Paddington, is actually a steel-framed construction which is primed for modernisation in-line with boutique hotels in the areas or high quality aparthotels for the London market.

Owners Property Investment (Development) Limited has recent agreed to reduce the asking price to offers over £20million.

Colin Hall, from Colliers’ London Hotels Agency team said: “Despite the challenges facing the hospitality sector during the pandemic there’s still plenty of appetite out there from investors especially for city locations which will bounce back once international travel returns. With a lack of stock available hotel values are holding for the few properties that come to the market. 

“This is a rare opportunity to purchase a single asset in a prime location, and because the hotel is a blank canvas there are several options available for a new owner to consider as well as inspiration from properties nearby that can be drawn on.”

Located just a short walk from Paddington station, with direct access to Heathrow in only 15 minutes the hotel is in an ideal location for tourists looking to access London’s West End. Hyde Park is only a few minutes away, as well as the shopping districts of Marylebone and Mayfair.

The property is 26,000 sq ft across 10 floors and includes a substantial catering kitchen, office, staff areas and canteen, laundry and boiler rooms. There is also a lift, roof terrace, rear terrace, courtyard and eight parking spaces to the front.

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Colin Hall

Director | Head of London Hotels - Agency

London - West End

Colin has been a specialist in central London hotel brokerage for more than 20 years and Head of London Hotels - Agency at Colliers International since 2002

Work involves both sales and acquisitions in London. Current and recent clients include London Hotel Group,  Grant Thornton, KLP, Harcourt Developments, MARA, FELDA, Shaftesbury Hotels, Leeu Collection and Imperial London Hotels.  Transactions over recent years have included the Intercontinental Westminster (now Conrad St James), Wyndham Grand Chelsea Harbour, 55 Newman Street W1, London Premier Kensington, Atelier EC1, Ashley Hotel Paddington and Berkeley Park Apartments Heathrow.

 

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Kim Inam

PR Manager

London - West End

I'm a communications professional who has previously worked as a journalist for eight years covering a broad range of topics including politics, crime, health and housing in north London. In recent years I have worked in corporate communications for local authorities across London  and joined Colliers in October 2019, initially providing maternity leave cover.

I provide strategic public relations advice to various business lines within the UK organisation to secure recognition for their work in the property press as well as key target media, as well as working with our experts to produce thought leadership pieces which are of interest to our clients and colleagues within the commercial real estate sector. In addition, alongside colleagues in the PR and wider communications team, I provide media and social media training for our in-house experts to prepare them for media opportunities and raise their personal brand within the sector.

As well as supporting various teams within the UK business, I also I curate and edit regular content for the Colliers.com blog, which helps to drive credible business leads to our experts.

 

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