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Russell House Hotel, a period townhouse hotel with a Grade II-listed façade in the heart of Bloomsbury in London, has been sold for £3.5m.
Neighbouring the Russell Square Underground Station, the hotel is located nearby to London’s top tourist attractions, including The British Museum, Camden Market, Oxford Street, Piccadilly Circus and Leicester Square.
The property features 11 en-suite letting rooms arranged over four floors, a breakfast room for 20 covers and an additional manager’s kitchen and office.
New owners, who are Hong Kong-based investors, plan to completely refurbish the venue and reposition it in the market as a boutique style hotel. Having owned and operated Russell House Hotel since 1979, the previous owners the Chiesa family decided to sell the hotel to retire.
Andrew Evangelou, director at Christie & Co who handled the sale, said: “The hotel attracted a lot of interest especially from overseas buyers looking to invest in a hotel so well located.
“The new owners saw the huge potential to transform the business and plan to invest further in it to create a boutique style venue, taking advantage of the demand for hotels of this kind in the area.”
