Stylish Building Exterior, Fab Location, In Need Of Total Repair! For Sale To Make 60+ Rooms London’s Hyde Park
Location: Within spitting distance of Hyde Park, Bayswater, London, England, UK
Name: Was The Hotel Averard…name is open to new owner
Guide Price: £22m
Guide Price per Key: £367k plus refurb cost
No. of Keys: 60…could be more
The Opportunity:
This opportunity will be well-known to those that have been following the London hotel scene over recent years…the subtle difference is that the price is now more down to earth! Originally built as two Victorian townhouses before being reconfigured as a hotel in 1925, until the current owner purchased it in 2009, it was run as bed and breakfast. A Grade II Heritage listed Victorian building , any future development will require extensive restoration and refurbishment with a significant extension to the rear of the site, including partial demolition of a 1957 rear addition.
Landmass, a renowned London based architect and interior design practice knows the building well and has produced various schemes as to how to restore the building for hotel use, as opposed to losing it to residential use.
The property comprises:
Large 7 storey, two adjoining houses in Lancaster Gate, W2, just 3-4 mins from Lancaster Gate tube with partial views of Hyde Park. This is a total refurb or remodelling project as the property had been left empty for over 10 years.
This was a former 60-room Averard Hotel which opened in 1925. Ideal development is to restore as a hotel, but possible to convert into serviced apartments subject to usual planning consent.
Gross Internal Area as existing – 2350.35 sqm or 24,911 sqf. Scope to add more space at the back.
Originally designed as two individual homes and converted into one hotel in the 1930’s. White stucco fronted buildings with classical detailing and portico entrances.
Situated at the easterly end of Lancaster Gate and occupying a prominent corner plot, these two unmodernised and conjoined freehold buildings. Currently has C1 Hotel use.
Flag & Management: Open to new owner
Current Owner: Private family
Main Photo: The Averard Hotel, opened in 1925
Financials: Schemes to rebuild avaiable
Tenure: Freehold
Agent: Local agent in partnership with THPT
Date Posted: March 2022
THPT Comment: Whilst having been around the market for several years, that doesn’t detract from the fact that it’s a stylish building in a fab location, virtually overlooking Hyde Park…and it’s adjacent to the Corus Hyde Park, another property that’s been looking for a new owner for several years!
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.
