Jasminder Singh has bought the four-star, 169-bedroom New Providence Wharf hotel in Canary Wharf - the second property the owner of one of London's largest privately owned hotel groups has bought in four weeks.
The purchase, off a guide price of £37.5m, increases the number of hotels now owned by Singh's Edwardian Group to 14. Last month, Singh bought the iconic Grade II-listed Free Trade Hall in Manchester, which the group had managed as a Radisson Edwardian hotel since 2004.
The New Providence Wharf has been operated under the Radisson Edwardian brand for the past four years.
The hotel is situated on the banks of the River Thames, close to London City Airport, with views across to the O2 Arena. Its sale to the Edwardian Group secure jobs and further investment in the property.
Speaking on behalf of Singh, Edwardian Group chief operating officer Paul Mansi said the latest acquisition added significantly to its portfolio, which now involves the ownership of 13 of the 14 hotels it operates in the UK.
"It also brings the hotel under our full control, which will allow us to broaden the scope of the hotel's offering in due course," he said. "The group is well positioned to make further purchases when interesting opportunities present themselves."
By Janet Harmer
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