UK: Hong Kong-based investors have bought London’s Russell House Hotel sold for £3.5 million and plan to completely refurbish the venue and reposition it as a boutique hotel.
The period townhouse hotel with a Grade II-listed façade is next to Russell Square Underground Station.
The property features 11 en-suite rooms arranged over four floors, a breakfast room for 20 covers and an additional manager’s kitchen and office.
Having owned and operated Russell House Hotel since 1979, the previous owners, the Chiesa family, have 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.”