BNP Paribas Real Estate (BNPPRE) has sold The Exhibitionist hotel in London for 拢10.6m (鈧�12.3m) to an undisclosed buyer.
BNPPRE said it has sold the 37-bed freehold boutique hotel on Queensberry Place in South Kensington for 15% over its quoting price.
The property dates back to 1876 and formerly comprised two interconnecting Victorian townhouses arranged over lower ground, raised ground and five upper floors. The property became a hotel in the late 1980s and underwent extensive refurbishment in 2015.
Richard Talbot-Williams, senior director, hotels at BNP Paribas Real Estate, said: 鈥淚nvestor sentiment towards rarely traded prime London hotel assets has remained extremely robust and durable through the pandemic period, a time during which there has continued to be a very limited supply of 鈥榩roceedable鈥� hotel investment opportunities.
鈥淭he competitive nature of the bidding for this prime townhouse hotel from both domestic and foreign buyers demonstrates a very high level of future confidence in the success of London hotels, in which we are great believers.鈥�
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