A hotel in London’s Bloomsbury that has been owned by the same family for 38 years, has been sold to a new operator off the asking price of £1.75m.
The Morgan Hotel, owned and operated by the Ward family since 1978, has been purchased by an ‘experienced operator’, who is now looking to expand and built on the hotel’s reputation.
Located in Bloomsbury Street, the Morgan Hotel is a period brick-built townhouse with 14 bedrooms situated over three floors. A second annexe building houses four self-contained apartments and three bedrooms.
Andrew Evangelou, director – Hotels at Christie & Co handled the deal on behalf of the vendors and commented: “The Ward family have loved and cared for the Morgan Hotel since the late 1970s, and after 38 years have decided to hang up their operator hats and enjoy a well-earned retirement.
“We’re delighted to have helped them pass the reins onto a keen, experienced operator who is looking to continue and expand on the success that the Wards have enjoyed over their years of tenure.
“Christie & Co experiences a high level of interest in this particular hotel, with 23 viewings arranged within a short marketing period, and multiple offers received on the business, showing that hotel businesses in the centre of London are still as attractive as ever.”