Rosewood London on the market for £450m

08 January 2016 by
Rosewood London on the market for £450m

The five-AA-star, 306-bedroom Rosewood London hotel has been put up for sale for £450m by investment firm CTF Development, which is owned by Hong Kong's Cheng family.

Rosewood London, located on High Holborn, is being marketed by Eastdil Secured on an invitation-only basis to a list of up to 20 potential buyers selected by the current owner, according to Property Week.

The Cheng family paid £135m for the property in 2006 and in 2013 embarked on an £85m renovation.

It will be sold subject to a management agreement with the Rosewood brand, owned by the Cheng family's company New World Hospitality, which will continue to operate the hotel.

Built in 1914, the grade II-listed building was the headquarters of the Pearl Assurance Company, which occupied it until 1989.

The property opened as a hotel in 2000 as the Renaissance Chancery Court, under the management of Marriott. It ended its association with Marriott in June 2011 and has since been managed by its owner.

The formerly US-owned Rosewood brand has expanded across Europe since the Cheng family acquired it in 2011.

Rosewood secured the management contract for the Hôtel de Crillon in Paris in 2013. New World Hospitality also recently purchased Amsterdam's Palace of Justice for €61.3m (£45m), for conversion to a boutique Rosewood-branded hotel.

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