Property Week reports that Chelsfield Partners is planning to sell two freehold London hotels for around £160m and has appointed Knight Frank to handle the sales.
The hotels – with a total of 468 bedrooms – are Club Quarters St Paul’s and Club Quarters Gracechurch, are both located within the City of London and focus predominantly on corporate membership business.
Dominic Mayes, head of hotels at Knight Frank, said: “Demand for quality central London hotel assets is currently very strong and we anticipate a high level of interest in these assets, in particular from overseas buyers. Both hotels are freehold, in excellent locations and have strong cash flows backed by operator guarantee provisions and offer a purchaser good growth prospects. The stapled debt package included in the sale will also no doubt help.”