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The Crowne Plaza in London Kensington has been sold for £84.3 million to a Singaporean consortium. Redeveloped in 2015, the luxury hotel is comprised of 163 en-suite bedrooms, a restaurant and bar, conference and events facilities and a gym.
Made up of developer Heeton Holdings, contractor KSH Holdings and construction firm Ho Lee Group, the prestigious consortium acquired the site through a share sale and purchase agreement with LC London.
Heeton now holds a 60% stake in the hotel while KSH and Ho Lee hold 20% each.
According to chief executive of Heeton, Eric Teng, “This acquisition reaffirms Heeton’s intention to be a strategic player in the international hospitality sector.”
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.