JLL advises Grosvenor on the sale of luxury hotel in Mayfair
JLL has advised Grosvenor Britain & Ireland on the sale of a long leasehold interest in The Beaumont, a 73-bedroom hotel in Mayfair, London.
Located in the heart of Mayfair near to Grosvenor Square, The Beaumont is a five-AA-star, award winning hotel. Launched in 2014, Grosvenor developed and designed the Grade II listed art deco building to transform it into an acclaimed luxury hotel with public areas, multiple dining facilities, a gym and Turkish bath.
Grosvenor has a 20 year vision to transform its London estate to help tackle the pressures facing the capital. In the next 10 years, Grosvenor will invest £1 billion in future proofing its estate to help it meet a range of opportunities.
As a gateway to Oxford Street, Bond Street and the Elizabeth Line, the mix of retailers, hotels and hospitality operators in North Mayfair, draws in thousands of visitors, workers and Londoners daily. The area is benefitting from a broad range of investment from Grosvenor to develop its cultural, retail and dining offer, as well as new amenities, improved public realm and streetscapes.
No commercial details of the transaction are being disclosed.
Keith Bailey, location director - Mayfair, Grosvenor Britain & Ireland, said: "The Beaumont is an important asset to North Mayfair both as an acclaimed hotel and a cultural landmark. We received a wide range of bids from global investors interested in this award winning hotel and look forward to working with its new owners, experienced hoteliers with a track record of excellence and long term investment."
Will Duffey, co-head European Transactions, JLL, comments: "The sale of The Beaumont marks the next stage in the life cycle of this iconic London hotel. The property has had a remarkable journey from its development through to what is has become today. We are delighted to have supported Grosvenor's ambition to ensure the future legacy of this exceptional asset. We look forward to seeing what the future holds for The Beaumont and the changing face of North Mayfair."