Specialist business property adviser, Christie & Co has completed on the sale of Russell House Hotel, a period townhouse hotel with a Grade II listed façade in the heart of Bloomsbury in London.
Neighbouring the Russell Square Underground Station, the hotel is ideally located and within easy reach of London’s top tourist attractions, popular museums, theatres and restaurants, including The British Museum, the famous Camden Market, Oxford Street, Piccadilly Circus and Leicester Square.
The property boasts 11 en-suite letting rooms arranged over four floors, a breakfast room for 20 covers and an additional manager’s kitchen and office.
Having owned and operated Russell House Hotel since 1979, the Chiesa family decided to sell the hotel to retire, completing the purchase by way of share transfer.
The new owners, who are Hong Kong-based investors, plan to completely refurbish the venue and reposition it in the market as a boutique style hotel.
Andrew Evangelou, Director at Christie & Co, handled the sale and comments, “The hotel attracted a lot of interest especially from overseas buyers looking to invest in a hotel so well located. The new owners saw the huge potential to transform the business and plan to invest further in it to create a boutique style venue, taking advantage of the demand for hotels of this kind in the area.”
Russell House Hotel was sold off an asking price of £3.5m.