Paddington hotel on sale for £20m

Paddington hotel on sale for £20m

Westbourne Terrace

UK: The former Victoria Garden Hotel at Westbourne Terrace near Paddington, London has come to market at a reduced asking price of over £20 million.

Owners Property Investment (Development) Limited are selling the 68-bedroom property for the first time in its history. The hotel was originally converted in the 1960s from two large family homes.

It spans 26,000 square feet across 10 floors, inclusive of a catering kitchen, office, staff areas and canteen, laundry and boiler rooms. There is also a lift, roof terrace, rear terrace, courtyard and eight parking spaces.

The hotel is being marketed by Colliers. Colin Hall, from the company’s London hotels agency team, said: “Despite the challenges facing the hospitality sector during the pandemic there’s still plenty of appetite out there from investors, especially for city locations which will bounce back once international travel returns. With a lack of stock available hotel values are holding for the few properties that come to the market.

“This is a rare opportunity to purchase a single asset in a prime location,” he added, “and because the hotel is a blank canvas there are several options available for a new owner to consider, as well as inspiration from properties nearby that can be drawn on.”

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