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News Release

London

London's best luxury hotel site comes to the market


London, 21st October 2009  – Following a number of approaches, Anglo Swiss Holdings Ltd has appointed Jones Lang LaSalle Hotels to explore investor interest in the iconic luxury hotel scheme on the site formerly occupied by the 'In and Out Club'. The ownership comprises numbers 90-100 Piccadilly and includes Cambridge House, originally built as a royal residence and once occupied by Lord Palmerston, a former Prime Minister of the United Kingdom. A scheme has been drawn up for 22,000 sq m of hotel accommodation which would create 121 suites, currently unique for London, enhanced by the inclusion of the public areas and original ballroom of Cambridge House.

Simon Halabi, advisor to the owner, commented: "For many years, I have had a vision of creating the leading luxury property in London and have put my heart and soul in to creating the scheme. I have now decided that it is time to pass the baton to another investor who will share my ambition and vision for the asset.”

Mark Wynne-Smith, CEO of Jones Lang LaSalle Hotels EMEA, added: “Based on the strength of interest already received by Mr Halabi and also seeing the increasingly strong international interest in London, we are very excited about the opportunity to talk to investors about this property.”

Mark Wynne Smith continued: “Mayfair has not seen a new luxury hotel property for some time and 90-100 Piccadilly offers the best opportunity to become the leading hotel in this prime district of London. We also know that residential investors have shown interest in the scheme and we certainly haven't excluded the possibility that it might end up in another luxury use such as Private Luxury Home, Palace or Museum.”
 
About Jones Lang LaSalle Hotels

Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network. In 2008, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on over $3.7 billion worth of transactions globally relating to more than 120 assets. In addition, advisory and valuation services were provided on more than 600 assignments. The global team comprises over 200 hotel specialists, operating from 36 offices in 19 countries. The firm's advice is supported by a dedicated global research team, which produced 87 publications in 2008 in addition to client research. Jones Lang LaSalle Hotels' services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Their services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels' clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL). www.joneslanglasallehotels.com.