51-Key London Hotel For Sale At Auction End-October
Location: Eardley Crescent, Earls Court, London SW5
Name: Boka Hotel
Guide Price: £8m…no VAT applicable
Guide Price per Key: £160k
No. of Keys: 51 – each ensuite with kitchenette…full breakdown available
The Opportunity:
This very typical (of the area) Victorian house conversion is going to auction on October 27th, via auctionaeers Barnett Ross. Inspection visits are recommended and can be arranged via THPT. The hotel laid out over five floors, including lower ground floor offers spacious rooms – around 2,500 sqf GIA on each floor (total for the building 12,355 sqf). Based on room rate tariff, 100% occupancy would generate £6,010 per night – just over £2m annually.
The building holds hotel permission class and could be run as an aparthotel, or subject to planning consent converted to residential.
As is common with auction sales, there is a defined completion date – in this case three-months. The hotel was originally 3 adjoining terraced buildings planned on lower ground, ground, first, second and third floors which interconnect at each level comprising a Hotel with 51 Bedrooms (each with ensuite and kitchenette) together with a Reception Area, Dining Room, Kitchen and ancillary office/storage areas. In addition, there is a passenger lift to all floors, gas central heating and a rear garden.
This is the style of hotel that many of today’s serious hoteliers started their first hotel careers with!
Located on Eardley Crescent which links Old Brompton Road with Warwick Road within the Royal Borough of Kensington & Chelsea with nearby local shopping facilities in West Brompton. In addition, a variety of shops, boutiques and restaurants are available along Kensington High Street to the north-east. The Olympia London Exhibition Centre is approx. 1 mile distant with Earl’s Court Underground Station (District and Piccadilly Lines) and West Brompton Station (London Overground and Southern rail services) both within easy walking distance.
Recreational amenities in the area include Holland Park, Hyde Park and Battersea Park. Furthermore, the property backs on to the former Earl’s Court Exhibition Centre which is now the subject of a major regeneration scheme. Earl’s Court lies less than 3 miles south-west of Marble Arch.
Flag & Management: VP – Vacant Possession
Current Owner: Private family
Main Photo: The hotel as is
Financials: 2019 financials with EOI
Tenure: Freehold
Agent: Auction via appointed agent. Buyer would need to retain THPT
Date Posted: October 2022
THPT Comment: A decent size, typical two-star “Earls Court” hotel that needs to be acquired, gutted and reopened as a bijou hotel/aparthotel. Hotels like this don’t often come to market anymore!
Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each week we mail the opportunities posted in that period, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all.
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market. For more information – Visit www.thpt.co.uk or email info@thpt.co.uk
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.
