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News Release

London

LaSalle Investment Management sells The Richmond Gate Hotel to Harbour Hotels


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JLL Hotels & Hospitality Group, along with John Miles & Company have advised LaSalle Investment Management on the sale of The Richmond Gate Hotel in Surrey to Harbour Hotels. 

The 68 bedroom Richmond Gate Hotel occupies a commanding position at the top of the affluent Richmond Hill at its junction with Queen’s Road and benefits from the Gates on the Park Restaurant, Conservatory Dining Room, conference facilities for up to 125 delegates and the Cedars Health Club. 

LaSalle Investment Management, on behalf of a pension fund client disposed of a 999 year long leasehold interest to Harbour Hotels, thereby retaining the freehold of the property together with a secure future income stream.

Kerr Young, Director of JLL’s Hotel & Hospitality Group, said: “We were effective in advising our client, LaSalle Investment Management on the asset management opportunities available to them and successfully assisted in delivering an optimal disposal strategy which led to the great result.”

Shaun Reed, Fund Manager, LaSalle Investment Management, commented: “We are delighted to have entered into partnership with Harbour Hotels. Their diligence and professionalism throughout the sales process bodes well for a mutually beneficial long term relationship.”

Harbour Hotels is the leading lifestyle hotel group in the UK with prestige prestigious hotels located across the South. Their luxury four and five star portfolio spans prime coastal, country and city sites including properties in Sidmouth, Salcombe, St Ives, Christchurch, Southampton, Chichester, Guildford, Brighton and Bristol.

Nicolas Roach, Chairman, Harbour Hotels, said: “Having recently opened our five star Southampton Harbour Hotel & Spa we very much look forward to moving onto our next development project which will see Richmond Gate Hotel substantially refurbished and extended in order to bring style, fun and luxury to the New Richmond Harbour Hotel & Spa.”

LaSalle Investment Management were advised by Stephenson Harwood, Harbour Hotels were advised by Clyde & Co.