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Marylebone Warwick Balfour sells West India Quay

24 July 2006

Malmaison owner Marylebone Warwick Balfour (MWB) has sold its West India Quay hotel in Docklands, London and other assets for £110m.

The disposal to Yianis Docklands Hotels is around £11m more than the independent valuation of £93m in December 2005.

Marriott's West India Quay hotel hit the headlines in May after Tottenham Hotspur football club's players dined at the property ahead of their crucial final Premiership game, and blamed a bout of illness on lasagne consumed there.

Despite the headlines, follow-up tests exonerated the five-star 301-bedroom hotel and blamed the illness instead on an unconnected virus, which had spread amongst the players.

The sale of the West India Quay group also includes the Manhattan Loft Corp (MLC).

MWB said gross proceeds from the sale had been used to pay the £50.6m in loans secured against the West India Quay hotel.

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By Emily Manson

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