Following a competitive bidding process, the 37-bed freehold boutique hotel on Queensberry Place was sold by the hotels team for 15% over its quoting price reflecting a net yield of just over 2%.
It is the first time the freehold of the property has been sold for over 75 years.
The hotel is let on a triple net lease for a further 15 years, expiring March 2037 with four-yearly upward only rent reviews.
It generates a current annual rent of £237,500.
The property dates back to 1876 and formerly comprised two interconnecting Victorian town houses arranged over lower ground, raised ground and five upper floors. The property became a hotel in the late 1980’s and underwent extensive refurbishment in 2015.
The Exhibitionist is located near the Natural History Museum (0.2 miles), and the Victoria and Albert Museum (0.3 miles). Hyde Park, the Royal Albert Hall and the retail facilities of Knightsbridge and the Kings Road are within a 10 minute walk.
John Woodhouse of Bond Woodhouse acted on behalf of the buyer.
