Property Information
Address:
The Z Hotel City, 24 Fleet Street, London, Greater London
, EC4Y 1AA
, Greater London
, United Kingdom
Price: Property no longer available.
Size: 16910 sq ft1571 sqm
Primary Category: Leisure
All Categories:
Leisure,
Property Ref/Movehut: MH677141
Property Ref/Agent: 113118
*Please use the agent ref when calling the agent directly.
Property description
This prime Central London property offers a rare opportunity to acquire a market leading freehold micro boutique hotel. Z Hotel City is a 113 bedroom hotel across seven floors. The bedroom design is based upon compact luxury design with average bedroom size of 13 sqm. The recently refurbished Temple 24 café, eatery and wine bar benefits from direct access from Fleet Street for non-residents and internal hotel entrance for guests. The cafe bar has space for up to 26 covers.
The Z Hotel City is a rooms led operational business with experienced and hands-on directors; ensuring a highly profitable hotel, with consistent growth. Opened in 2015, the on-trend, micro boutique hotel is highly operationally efficient. The stability of income that this asset offers, makes it an attractive operational real estate investment.
The opportunity is for a Sale and Manage back structure creating value through this prime Central London property and operated by strong, experienced hotel management.
The ground floor retail unit offers a further opportunity to either re-let with the current tenant or to secure a new tenant.
We are seeking offers in the region of £46,000,000 for the freehold interest subject to contract and exclusive of VAT. A purchase at this level would reflect a cap rate of 6.1% on this year's forecast EBITDAR, assuming the purchaser's costs are 1.80%.
Access to the Data Room and Investment Memorandum are available on request.
Location Highlights
The Z Hotel City, Fleet Street is on the edge of The City of London, a global financial and professional services hub with banks, investment houses and hedge funds from over 26 countries are represented in the area. The immediate area benefits from a cluster of large multinational corporates including Deloitte, Goldman Sachs, JP Morgan, Saatchi & Saatchi and Unilever.
The Hotel is located minutes from some of London's most visited leisure demand generators including St Pauls Cathedral, Somerset House, Southbank Centre, Tower of London, The Globe. Further afield, The National Gallery, The British Museum, Westminster Abbey, Tate Britain, Trafalgar Square and Buckingham Palace are a short tube journey away. In the immediate area, the hotel is a short walk away from the Temple Church (home of the Knights Templar) and the lively bars and restaurants of Covent Garden.
EPC
B (39)
Viewings available, and to be booked through Avison Young.
Prime Central London location
113 bedroom micro boutique hotel
Recently refurbished restaurant and four new bedrooms
Occupancy of over 98%
Highly profitable
Cost-efficient hotel with low-energy consumption and low staff employment count
Sale and Manage-Back structure
Leased retail unit on Fleet Street.
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