A hotel development site in Covent Garden has been brought to market for more than £25m on behalf of GMS Estates.
The site comprises Kingsway House and the adjacent 4 Great Queen Street in central London. Planning permission allows the conversion of the properties into an 80-bedroom hotel with a commercial unit, including a new seven-storey building at 4 Great Queen Street.
The proposed scheme extends to more than 51,000sq ft and retains the period façade of Kingsway House, which sits within the Kingsway Conservation Area. The site is a one-minute walk from Holborn Station, providing transport connections across London and to major airports.
Knight Frank, which is handling the sale, has transacted over £400m of central London hotel assets in the past 12 months.
James Bater, associate at Knight Frank, said: “Opportunities to acquire a consented hotel development of this scale and quality in the heart of central London are exceptionally rare. Kingsway House combines an outstanding Covent Garden location with a de-risked planning position and clear route to development at a time of strong demand for well-located hotel accommodation in the capital.
“Against a backdrop of constrained new supply, year-round visitor demand and London’s enduring appeal as a global leisure and business destination, the opportunity presents compelling investment fundamentals alongside significant potential to create long-term value through the delivery of a high-quality, income-generating asset in one of the capital’s most established locations.”
A hotel development site in Covent Garden has been brought to market for more than £25m on behalf of GMS Estates.
The site comprises Kingsway House and the adjacent 4 Great Queen Street in central London. Planning permission allows the conversion of the properties into an 80-bedroom hotel with a commercial unit, including a new seven-storey building at 4 Great Queen Street.
The proposed scheme extends to more than 51,000sq ft and retains the period façade of Kingsway House, which sits within the Kingsway Conservation Area. The site is a one-minute walk from Holborn Station, providing transport connections across London and to major airports.
Knight Frank, which is handling the sale, has transacted over £400m of central London hotel assets in the past 12 months.
James Bater, associate at Knight Frank, said: “Opportunities to acquire a consented hotel development of this scale and quality in the heart of central London are exceptionally rare. Kingsway House combines an outstanding Covent Garden location with a de-risked planning position and clear route to development at a time of strong demand for well-located hotel accommodation in the capital.
“Against a backdrop of constrained new supply, year-round visitor demand and London’s enduring appeal as a global leisure and business destination, the opportunity presents compelling investment fundamentals alongside significant potential to create long-term value through the delivery of a high-quality, income-generating asset in one of the capital’s most established locations.”
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
Copyright BlazeThemes. 2023
