Savills : Bayswater hotel sold from a guide price of £30 million

Savills, on behalf of Singaporean based Lum Chang Holdings Limited (LCH), has sold the Pembridge Palace Hotel investment in Bayswater, London to an overseas investor from a guide price of £30 million.

The 120 bedroom, Grade II listed property is a short walk from Hyde Park and Whiteleys Shopping Centre. Pembridge Palace Hotel is a tourist hotel, with the majority of bedrooms providing en-suite facilities. The hotel is close to several major stations including Bayswater, Queensway and London Paddington.

Gary Witham, director in the hotels team at Savills, comments: 'The central location and scale of Pembridge Palace Hotel invited a large amount of interest from European and South East Asian investors and brands looking for a foothold in London. We also had a lot of interest from private family office investors keen on acquiring London hotels offering value.'

According to the latest research from Savills, London hotels accounted for half of all UK hotel transactions in 2016. Interest from overseas investors accounted for 29.2% of all 2016 transaction volumes, with private investors increasing their transaction volumes by 152% year-on-year.