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Enterprise hotel in Earls Court sold off guide price of £25m

18 February 2014 by
Enterprise hotel in Earls Court sold off guide price of £25m

The 100-bedroom Enterprise hotel in London's Earls Court has been bought off a guide price of £25m by Chatteris Developments, a joint venture company between Heeton Holdings and Ryobi Kiso Holdings.

Chatteris, who acquired the property from Woodley Hotels (Kensington) intends to now refurbish the hotel and add 20 bedrooms.

Danny Low, chief operating officer at Heeton, a Singapore-based property company which owns 80% of Chatteris, said: "This acquisition will strengthen our hospitality portfolio, bringing the total number of hotel rooms in our group to about 365.

"The group believes that the hospitality sector presents the best mid to long-term opportunity for growth as demand for travel accommodation continues to outstrip available accommodation in popular gateway cities throughout the world."

Colin Hall of Colliers International, which handled the sale on behalf of the sellers, said: "This was an off-market sale which generated huge interest from a number of international buyers. The sale to Heeton is testament to the strong appetite Singaporean buyers have for the London hotel market."

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