Hotel developers and hospitality entrepreneurs have the opportunity to snap up a prime hotel spot in the capital as Savills bring to market a four-star property in Lancaster Gate.
Family-owned, 52-bedroom The London Elizabeth Hotel is up for sale for £42.5m and presents an ‘excellent opportunity’ for an investor to acquire a central London hotel.
The hotel is set over six floors and comprises 33,000 sq ft of space, including the Rose Garden Restaurant offering 40 covers.
Included in the sale is a car park to the rear of the property located on Elms Mews.
Earlier this year, a planning application was submitted for a three-storey extension to be created, incorporating new bedrooms, and storage space and ancillary hotel facilities.
Alex Sturgess, director in the Savills hotels team, comments: “The London Elizabeth Hotel is an excellent opportunity for an investor to acquire a central London hotel that has a host of development options. We are pleased to bring the property to the market on behalf of our client.”
4 Lancaster Terrace was originally built in 1850 as three private houses in a new terrace of family homes on Lancaster Gate Terrace.