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Mayfair’s largest hotel boasting 494 bedrooms including 74 suites Previously sold in 2010 as the largest hotel transaction in London on record Let to Marriott International with 37 years unexpired
Mayfair’s largest hotel boasting 494 bedrooms including 74 suites
Previously sold in 2010 as the largest hotel transaction in London on record
Let to Marriott International with 37 years unexpired
London, 06 March, 2015 – JLL Hotels & Hospitality Group has been appointed the sole agent to market London’s largest luxury hotel, the JW Marriott Grosvenor House Hotel on behalf of the Administrators and the LPA Receivers. The luxury five star hotel became the largest hotel transaction in London on record when it sold in 2010.
The historic hotel, located at 86-90 Park Lane overlooking Hyde Park, boasts 494 bedrooms including 74 suites and spans over 56,700 sq. m. in total. The hotel’s conference and meeting facilities are amongst the most extensive in London, comprising 5,660 sq. m. of space across 31 venues, including the Great Room, the largest five-star ballroom in Europe. It is also home to some of the most famous bars and restaurants in London including the JW Steakhouse & Terrace, Corrigan’s Mayfair, the Park Room & Library, Red Bar, Bourbon Bar and Park Lane Market. The JW Marriott Grosvenor House Hotel underwent a £135 million refurbishment in 2008.
Mark Wynne-Smith, Global CEO, JLL Hotels & Hospitality Group commented: ““The iconic JW Marriott Grosvenor House is Mayfair’s largest hotel with 494 keys and a gross internal area of some 56,700 sq. m. The last hotel transaction on Park Lane took place 2 years ago and as the market has strengthened since then, we are looking forward to engaging with investors in an open marketing process. The hotel is set apart from its Park Lane hotel peers due to its extensive banqueting facilities, whilst the lease to Marriott International means that we expect the asset to appeal to a broad range of local and global investors.”
Designed by acclaimed architect Sir Edwin Luytens of New Delhi, the hotel became the first in Britain to introduce en-suite bathrooms and running iced water in each and every bedroom when opened in 1929. It was built on the site of Grosvenor House, the former London residence of the Dukes of Westminster, whose family name is Grosvenor.
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 fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316.0 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
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 , 2013 and 2014 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
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