Metrotel has sold the landmark 119-bedroom Premier Inn Hammersmith Hotel and Ravenscourt Arms Public House to a private investor.
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Located at 255-257 King Street, London, W6, the prominent former office tower was converted to a 119-bedroom Premier Inn over basement, ground floor and 13 upper storys. The Ravenscourt Arms is a busy Punch Taverns' public house attached to one side of the hotel.
The sale price was not disclosed. The guide price was £10 million (approx 11.6 million).
The property generates a rental income in excess of £650,000 per year from the lease to Premier Inn Hotels and additional income from the Ravenscourt Arms pub and from Orange for telecommunications equipment.
Gerald Eve Leisure Partner Nick Barber, who advised on the sale, said: "The market continues to demonstrate a strong appetite for this kind of well let and well located hotel property both from institutions and private investors. Many investors are particularly attracted by Premier Inn's strong brand and growth story for London."
Source: MJ2 Limited
The sale price was not disclosed. The guide price was £10 million (approx 11.6 million).
The property generates a rental income in excess of £650,000 per year from the lease to Premier Inn Hotels and additional income from the Ravenscourt Arms pub and from Orange for telecommunications equipment.
Gerald Eve Leisure Partner Nick Barber, who advised on the sale, said: "The market continues to demonstrate a strong appetite for this kind of well let and well located hotel property both from institutions and private investors. Many investors are particularly attracted by Premier Inn's strong brand and growth story for London."
Source: MJ2 Limited
