International real estate advisor Savills has been appointed to sell the four-star London Elizabeth Hotel in Lancaster Gate, Bayswater, which comes with a price tag of £45m.
The Victorian hotel currently comprises 52 rooms but its owner has received planning consent for the significant redevelopment and extension of an additional 43 bedrooms.
The Rose Garden Restaurant services the hotel and offers circa 40 covers, and the following adjacent room is a lounge area with a bar. The Bar leads to the Garden Terrace, which is an ideal location for a cocktail or afternoon tea during the summer months.
The Terrace is used by guests all year round due to heaters and marquees. The Hotel also has one conference and meeting room that seats 12 guests.
The property and site are both freehold and set in a prominent position overlooking the Italian Gardens in Hyde Park, just 30 meters from the Lancaster Gate underground station.
Alex Sturgess, Director, Savills Hotel team, commented, “The sale of the London Elizabeth Hotel represents a unique opportunity for an operator or investor to own and reposition a great asset available to the market for the first time in several decades.
'Just minutes from the hub of Paddington, this area has undergone significant investment over the last five years and further development in the pipeline will additionally enhance the appeal of this investment opportunity.”
The hotel previously came to market at the end of 2018 with a £42.5m price tag.