UK: One Leicester Street, the 15-bedroom hotel in London’s Chinatown, has been sold by the Unlisted Collection for an undisclosed sum.
UK: One Leicester Street, the 15-bedroom hotel in London’s Chinatown, has been sold by the Unlisted Collection for an undisclosed sum.
Buyer Honky Tonk, who run American-style diners in Clapham and Chelsea, will close and refurbish the property, which will reopen by the end of 2014.
The property was opened in April 2011 by chef Fergus Henderson and his business partner Trevor Gulliver as the St John Hotel. It went into administration in October 2012, days after receiving its first Michelin star.
Loh Lik Peng, founder and managing director of the Unlisted Collection acquired the property in January 2013, and has now sold it to Honky Tonk.
Josh Leon, a restaurant property consultant who advised the Unlisted Collection, said: “There was a lot of value in the assets as is so often the case in central London, and it was clear a sale at a very good price was possible. But to achieve a good result it was imperative to keep it virtually under wraps, also to protect the business. Restaurants and hotels are incredibly sensitive to any rumours. I was therefore asked to rely on my network rather than go to the market.”
Staff employed at One Leicester Street, will be offered the opportunity to remain with the Unlisted Collection at one of their other properties. There will be no redundancies.
www.unlistedcollection.com
www.honkytonklondon.com
