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Magnificent Hotel Investments has bought 37 Wood Street for a price in excess of £40 million. Built in the 1960s for the City of London police force, the 57,000 sq ft site is comprised of a 12-storey tower and a four-storey building positioned around a courtyard.
Along with Shun Ho Technology Holdings and Shun Ho Resources Holdings, the Hong-Kong based hotel giant purchased a 408-bedroom hotel at 100 King’s Cross Road in London in 2016, which now operates as Royal Scot Hotel Travelodge, and the firm has revealed plans to convert its newest acquisition into another hotel.
The leasehold property was brought to the market in June by the City of London Corporation via Cushman & Wakefield.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.