Crowne Plaza London – Battersea, Sells After Several Years On The Market
Main Photo: The Crowne Plaza London, Battersea…originally called The Verta
Date: July 2021 – Sale went through in March 2021
Location: Adjacent to Battersea Heliport, London, England, UK
Name: The Crowne Plaza London, Battersea
Number of Keys: 78
Seller: Platinum Estates, of Hong Kong, owner of some 16 hotels and residential properties in Europe, all branded, with Hilton, Hyatt and Marriott being the main choice.
Buyer: An established owner-operator who wishes to remain anonymous, probably as they need to decided whether to remain with IHG’s Crowne Plaza as the brand (THPT: bad idea!) or to refurb and rebrand.
London-based Estate Office Investments represented the seller.
The hotel is part of an award-winning development and has a unique location overlooking the Thames, next door to London’s only heliport, put together by the ill-fated Von Essen Hotels, who owned both the heliport and the hotel, opened as The Verta.
The hotel boasts 78 rooms, restaurant, bar and spa facilities and is not only popular with both leisure and corporate users but also Premier League football and first-class county cricket teams.
Barry Marshall, Head of Commercial Investment at Estate Office said, “whilst it is a challenging market, we have found a buyer for our client with an outstanding reputation who is excellently positioned to rebuild the hotel’s business once lockdown restrictions ease.”
The vendor was also represented by Mishcon de Reya LLP. Colliers International and CMS advised the purchaser.
Chaim Aziz, Managing Director at Estate Office said, “we are actively looking for more hotel investment opportunities. We have a unique client base with cash funds and a track record for acquiring despite tough market conditions.”
THPT Comment: The hotel had a great start when Von Essen opened it, as The Verta in 2010 and under good management and marketing, could have taken off as a real “neighbourhood hotel” as have been proved by the nearby Hotel Rafayel, which is a fab hotel, despite the lack of any tube station near either of the hotels. We wish the new owners well to re-establish the hotel to the position it should be.
First Seen: Estate Office press release
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