London Marriott Hotel Grosvenor Square Leasehold on the Market for £180m

Location: Grosvenor Square, Mayfair, London, UK

Name: Marriott Hotel Grosvenor Square

No. of Keys: 237

The Property: The hotel started life as Grand Metropolitan’s Europa Hotel in the 1960s and changed hands several times, most recently to Hong Kong’s private equity firm Joint Treasure who paid £125m in 2014, to the then owner, Strategic Hotels of the USA. 

Joint Treasure did try to sell the leasehold in July 2017 for £200m via Eastdil…the trouble being the leasehold only has 38 years left to run. They are now asking £180m.

Marriott have a long-term management agreement so forget flag-free! The new owned would need to acquire an leasehold extension from freeholder, Grosvenor (Estates).

Gordon Ramsay’s previously Michelin-starred Maze restaurant was located in the hotel until it closed in January, and is set to be replaced by a new concept.

The hotel is opposite the due-to-be-opened new Biltmore Mayfair, owned by Millennium Copthorne.

Main Photo: The exterior of the hotel

Tenure: Short Leasehold

Brand/Management: Under long-term HMA with Marriott

Current Owner: Joint Treasure

Guide Price: £180m

Agent: JLL

Date Posted: September 2019

THPT Comment: What a piece of real estate…if one could get the freehold, or at least 150 leasehold extension

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