JLL’s Hotels and Hospitality team are marketing the Pullman London St Pancras Hotel on behalf of a private client, situated in the heart of the £3.5 billion London King’s Cross redevelopment and close to King’s Cross Rail station.
The 312 bedroom hotel, which emerged from a £15 million refurbishment in 2012, operates under the Accor brand and is situated half-a-kilometer from Google’s new one million-square-foot headquarters. The hotel is on a 25-year lease, with 14 years unexpired.
The latest figures from JLL shows that the UK remains the leading market for hotel investment, attracting 37 percent share of EMEA hotel investment volume in 2013. Positive trading sentiment, and increased institutional investment across the UK will underpin investor demand in the hotel market in 2014. This will also be aided by the increasing appetite of UK domestic banks such as RBS, Lloyds and Barclays, as well as overseas banks such as the Bank of China and a number of Middle Eastern banks, to lend to the hotel sector.
“The Accor lease and the location of the hotel in the King’s Cross redevelopment area underpins the long-term land banking value of this opportunity," said George Nicholas, executive vice president in the JLL Hotels & Hospitality team. "The familiarity and maturity of the UK will continue to provide good opportunities for investors in 2014 and will drive more value.”
The IHIF, the International Hotel Investment Forum, takes place in Berlin from March 3-6 and is owned by Questex Media. The three-day conference is the leading annual meeting place for the hospitality industry, and unites global industry professionals to help expand business worldwide.