Savills and JLL Hotels and Hospitality have sold the Crowne Plaza London Kensington on behalf of L.C. Hotels Pte Ltd. A Singapore consortium led by Heeton Holdings Ltd , together with KSH Holdings Ltd and Ho Lee Group Pte Ltd, acquired the hotel for £83 million, reflecting a net initial yield of 3.46% and a value of £509,000 per key.
The 163 key hotel has a gross internal area of 92,500 sq ft (8,600 sq m) and is located in the heart of Kensington, a short walk from the National History Museum, the V&A and Hyde Park. InterContinental Hotels Group will continue its management agreement, with the hotel remaining as the Crowne Plaza London Kensington.
