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Russell House Hotel sold to Hong Kong investors

29 May 2018 by
Russell House Hotel sold to Hong Kong investors

The Russell House Hotel on London's Russell Square has been sold to a group of Hong Kong-based investors.

Having owned and operated the 11-bedroom hotel since 1979, the Chiesa family has decided to sell the hotel to retire, completing the purchase by way of share transfer, off an asking price of £3.5m.

The new owners plan to completely refurbish the townhouse and reposition it in the market as a boutique-style hotel.

The four-floor property has a Grade II-listed façade and a 20-cover breakfast room, and is located adjacent to Russell Square underground station.

Andrew Evangelou, director at Christie & Co, handled the sale. He said: "The hotel attracted a lot of interest especially from overseas buyers looking to invest in a hotel so well located. The new owners saw the huge potential to transform the business and plan to invest further in it to create a boutique style venue, taking advantage of the demand for hotels of this kind in the area."

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