Skip Ribbon Commands
Skip to main content

News Release

London

JLL sells prime London W1 Mayfair Hotel for £125.1 million (US$208.2 million)

JLL sells leasehold of Marriott Hotel Grosvenor Square to Hong Kong based Private Equity firm Joint Treasure


London, 04 April 2014 – JLL's Hotels & Hospitality group is pleased to announce the sale of the five star, 237 bedroom London Marriott Hotel Grosvenor Square, Mayfair on behalf of owners Strategic Hotels & Resorts, Inc. (NYSE: BEE).

The hotel, which is located just metres away from London's retail and business precincts of Oxford Street, Park Lane, Regent Street, Bond Street and Berkeley Square, was sold with the benefit of a long term management agreement to Marriott.

The West End hotel offers extensive conference and private dining facilities and is home to Gordon Ramsay's Michelin starred restaurants Maze and Maze Grill.

George Nicholas, Executive Vice President in JLL's Hotels & Hospitality group, who negotiated the sale, commented: "The sale represents yet another vote of confidence in the London hotel investment market, and successfully completes Strategic Hotels & Resorts' objective of exiting the asset. The formal sale process attracted over a dozen offers from investors who are still seeking to place capital in to London hotel real estate. Both Asian and Middle Eastern investors remain the most eager".

Recent research conducted by JLL into the London Hotel market shows that investors from Asia and the Middle East continue to be attracted to London hotel assets. 2013 trends in this sector suggest that US based private equity funds and other investors are increasingly looking towards Europe and London."

About JLL

JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4.0 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 279 million square meters and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management.

In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013. For further information, visit www.jll.ru

 

200 East Randolph Drive Chicago Illinois 60601  |  30 Warwick Street London W1B 5NH   | 
9 Raffles Place #39–00 Republic Plaza Singapore 048619​