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Joint administrators, Ian Corfield and Simon Carvill-Biggs of FRP Advisory, have brought to market through Christie and Co the Hampton by Hilton in London Docklands for an undisclosed amount.
The property, which is a purpose built 209-bedroom hotel in the Docklands area of London, is close to the ExCeL Exhibition Centre and London City Airport, which makes it popular for business travellers.
Subject to relevant approvals and consents, there is potential to create 10 additional bedrooms, presenting an exciting development opportunity to the new operator.
Each year, the ExCel Centre hosts over 400 events, welcoming 40,000 exhibiting companies and over 4 million people, providing a substantial boost to the area.
In addition, the hotel also benefits from transport links to central London with the Royal Albert and Prince Regent DLR stations just a short walk away. Custom House station is also close by, connecting the hotel to both the DLR and Elizabeth Line.
The hotel is up for a full acquisition of the existing lease or grant of a new lease with a hotel management agreement, which is subject to consents and approvals.
Craig Millward, director of corporate hotels at Christie and Co, said: “We are witnessing a great deal of interest in this asset which is reflective of the demand from hotel operators for quality assets and the ongoing recovery in the market.
“This hotel offers excellent underlying fundamentals – good critical mass, a purpose-built, branded product with strong cash flow, and additional asset management opportunities. We expect a very competitive process.”
