Pembridge Court Hotel sells for record price

London's Pembridge Court Hotel, an upmarket townhouse property in Notting Hill Gate, has been sold to Singapore-based investors after 36 years in the ownership of the Capra family.

Paul Capra, whose parents bought it as a B&B in 1959, told Caterer he had decided to sell only after being approached with an offer that was "very, very good".

He declined to reveal the price paid, though local sources suggested it was close to £3m - a staggering figure for a 20-bedroom hotel, notwithstanding a successful restaurant and average occupancy of 75% over the past four years.

Mr Capra said that despite the sale he would continue to be associated with Pembridge Court as he would be working for its new owner, a Singaporean building firm, as a property consultant.

Very little would change, he added, as manager Valerie Gilliat, who has been with the hotel for 25 years, would continue to run the property with her existing 20 full- and part-time staff.