Location: Belgrave Road, Pimlico, London – Near Victoria and Well-Known for B&B Type Hotels
Names: TBA – Open to Buyer
Guide Price: £5.5m, £11m and £6.5m
No. of Keys: 15, 36 and 27
The Opportunity: These three properties, separately-owned, mandated through our single partner agent, are absolutely typical of the two-star, Victorian, six-storey, B&B type of hotels that this road is known for. Similar in style to the hotels in Sussex Gardens, Norfolk Gardens both in Bayswater, Lexham Gardens in Kensington, Gower Street and Kings Cross, which over the years have been quietly bought up and turned into bijou, boutique hotels.
Whilst the three hotels aren’t adjacent as such, they are all within spitting distance of each other, thus an operator would benefit from single management and sales & marketing. There is a fourth 50-key hotel, adjacent to the larger of these three hotels (Hotel Two) that might come up for sale at some stage in the future.
The first two hotels are in quite good decorative order, with the third (27 keys) in need of a total refurb. The two refurbished hotels were running at 90% – 95% occupancy with decent EBITDA EG
Main Picture: The typical frontage of hotels in this road
Current Owner: Three different owners, private families
Flag and Management: Both free to the new owner
Financials: Financial information available after LOI/EOI
Tenure: Freehold. The hotels are available individually or a portfolio
Agent: Local agent in partnership with THPT
Guide Price: £5.5m, £11m and £6.5m – Around £295k per key
Date Posted: March 2021
THPT Comment: An opportunity to buy some iffy B&Bs in Pimlico, a good area of London – SW1 to start the trend to “gentrify” the hotel patch and make it a boutique hotel destination.
Contact us for further information
This is a new feature on the THPT site…. 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 fortnight we mail the opportunities posted that week, 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.
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.