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PRINCE WILLIAM HOTEL 42-44 GLOUCESTER TERRACE, PADDINGTON, LONDON, W2 3DA

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Page 1: PRINCE WILLIAM HOTELbulkloader.prd.pl.artirix.com.s3.amazonaws.com/9fefa931...37 Hilton London Hyde Park 38 DoubleTree by Hilton Hotel London- Hyde Park CONNECTIONS 39 Bayswater Underground

PRINCE WILLIAM HOTEL42-44 GLOUCESTER TERRACE, PADDINGTON, LONDON, W2 3DA

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EXECUTIVE SUMMARY • 49 bedrooms

• Located in Paddington; only 0.2 miles from London Paddington Station

• Paddington is currently undergoing significant redevelopment and has been subject to large scale investment over the last few years

• Fantastic tourist attractions and demand drivers nearby including Kensington Palace, Royal Albert Hall, St Mary’s Hospital, Oxford Street, Portobello Road, Madame Tussauds, Natural History Museum and V&A Museum

• Incoming Crossrail to Paddington Station and the Whiteleys development to further catalyse gentrification of the area

• Shortage of hotels on the market in Bayswater and Paddington

• Trading successfully

• The hotel is offered free of brand and management ties

• Freehold

PRINCE WILLIAM HOTEL42-44 GLOUCESTER TERRACE, PADDINGTON, LONDON, W2 3DA

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PRINCE WILLIAM

HOTEL

LondonPaddington Station

RegentsPark

WhiteleysShopping Centre

OxfordStreet

City of London

Lancaster GateStation

QueenswayStation

BayswaterStation

HydePark

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Cromwell Road

A308

B

rompton Road

A3218

Kensington High Street A315

A40 Westway

A4202

A4206

A402

Bayswater Road

A5204

Sussex

Garden

s

A4204

Gloucester Road

Sloane Square

High Street Kensington

Earls Court

HYDEPARK

KensingtonGardens

The Serpentine

BuckinghamPalace

Gardens

MARYLEBONE

MAYFAIR

ST GEORGE’SFIELDS

PADDINGTON

BAYSWATER

KNIGHTSBRIDGE

KENSINGTON

BELGRAVIA

EARLS COURT

Bond Street

Hyde ParkCorner

Knightsbridge

Lancaster Gate

Paddington

Bayswater

Queensway

NottingHill Gate

Gloucester Road

South Kensington

Victoria & AlbertMuseum

Science Museum

NaturalHistory

Museum

Royal Albert Hall

KensingtonPalace

Marble Arch

Harrods

HollandPark

HollandPark

WestKensington

PRINCEWILLIAM

HOTEL

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VISIT1 Hyde Park2 Marble Arch3 Kensington Palace4 Italian Gardens5 Harvey Nichols6 Royal Albert Hall7 Science Museum8 Natural History Museum9 Victoria and Albert Museum10 Selfridges11 Marylebone retail offering12 Harrods13 Whiteleys14 Portobello Road 15 Electric Cinema 16 Notting Hill Arts Club 17 St Mary’s Hospital FOOD & BEVERAGE18 Halepi19 Moroccan Sahara 20 Farmacy 21 The Ledbury 22 Polpo Notting Hill23 Granger & Co24 The Grazing Goat25 Chiltern Firehouse26 Le Gavroche27 The Orangery28 Vinoteca29 Donostia Restaurant HOTELS30 Central Park 31 Royal Eagle Hotel 32 Royal Lancaster London33 Columbia Hotel34 Lancaster Gate Hotel35 Arbor Hyde Park36 Lancaster Hall Hotel37 Hilton London Hyde Park38 DoubleTree by Hilton Hotel London- Hyde Park CONNECTIONS39 Bayswater Underground Station40 Queensway Underground Station41 London Paddington Overground & Underground Station42 Lancaster Gate Underground Station43 Marble Arch Underground Station44 Bond Street Underground Station

This plan is for guidance only and mustnot be relied upon as a statement of fact.Attention is drawn to the Important Notice.Not to scale.

N

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PADDINGTON Paddington is a central London Zone 1 destination, located in the London Borough of Westminster. Paddington’s character is most defined by its heritage as the gateway to London; historically through its extensive canal network at Paddington Basin and later on, with the arrival of the steam train, as the terminus for Isambard Kingdom Brunel’s Great Western Railway. In recent years Paddington has been subject to a period of regeneration, driven by numerous large scale developments that have been led by The Paddington Partnership. The partnership consists of 13 individual projects, including Paddington Basin and Merchant Square, which have been ongoing since 1998 and completed last year. The once disused canal wharves have been given a new lease of life linking with Little Venice to the north. The scheme has been described as “the largest redevelopment scheme since the Second World War” and has since been the catalyst for further development evident in Paddington today. The Paddington Cube development, as a part of the wider Paddington Square development, will add an additional 360,000 sq ft of office space to the Paddington area. The Paddington Square scheme comprising retail, office, public realm and transport infrastructure improvements will instil a new lease of life into the area; the scheme is set to introduce 4,500 new jobs to the area as well injecting £350m per annum to the local economy. Paddington Square is projected to cost £825m and is due to be completed by the end of 2021.

The Prince William Hotel is only a short walk away from Bayswater and Queensway. Alongside all of the development occurring in Paddington, Bayswater is also undergoing extensive redevelopment. Much of Queensway, including Whiteleys Shopping Centre, has recently been purchased by an overseas investment partnership, with the aim of redeveloping and repositioning the area. In December 2018, Whiteleys was closed to undergo a reported £1 billion pound redevelopment, which is due to complete in 2022 and is set to further reinvigorate the Bayswater area through delivering an enhanced retail experience along with residential and leisure facilities. The Queensway Estate which includes the Queens Ice and Bowl ice rink, Queensway market, shops, flats and offices is also set to undergo a major improvement and is due to complete in Q1 2020.

The Prince William Hotel’s guests are predominantly leisure driven given the hotel’s proximity to some of the UK’s leading attractions. A walk south through Hyde Park takes tourists to four of the UK’s top 20 attractions; the Natural History Museum, the Victoria and Albert Museum, the Science Museum and Royal Albert Hall. These four attractions had more than 14 million visitors in 2018*. Kensington Palace, the official residence of The Duke and Duchess of Cambridge is also nearby.

*According to AVLA (Association of Leading Visitor Attractions)

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TRANSPORT Paddington Station was the 8th busiest station in the UK in 2018 with 36.6 million passengers entering and exiting the station. The Prince William Hotel is 0.2 miles away from Paddington station and as well as being an underground station, is the London terminus for the Great Western main line and is soon to be a key station on the Elizabeth line. The Great Western Railway services link West London with the Thames Valley as well as South West England and Wales.

Paddington will form an integral part of Crossrail’s Elizabeth Line. When completed the service will enable travel from Paddington Station to Liverpool Street Station in just 10 minutes and Canary Wharf in 17 minutes. The Elizabeth Line will make central London much more accessible to a larger proportion of the population; the number of people living within a 45-minute commute of the major employment centres of the West End, the City and Canary Wharf will increase from 5 million to 6.5 million following completion. This will in-turn further increase visitor numbers and footfall in the Paddington area.

Paddington Station is serviced by the Bakerloo, Circle and District Lines, as well as by an extensive network of buses. Paddington is a very well connected central London location with six London airports located within one hour’s travel from the Hotel, providing connections to almost 400 destinations worldwide. The Heathrow Express terminals at Paddington providing links to Heathrow, the UK’s busiest airport, in as fast as 15 minutes. The expansion currently taking place at Heathrow with the addition of a new runway, will further add to the connectivity of Paddington.

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HOTEL DESCRIPTIONThe Prince William Hotel represents a unique investment opportunity to acquire a successfully trading hotel. Only a four minute walk from Paddington Station, where over 36 million passengers travel through each year. The hotel occupies a corner plot with frontage on both Craven Road and Gloucester Terrace and benefits from proximity to Hyde Park and some of London’s leading attractions.

The Hotel comprises 49 en-suite bedrooms, a hotel reception and a breakfast room. The hotel presents well given a recent refurbishment and has a clean and comfortable feel.

The hotel has a Gross Internal Area of 1,060 m2 (11,400 ft2). The average room size is 13 m2.

The 49 bedrooms are comprised as follows;

Room Type Number

Single Room 3

Double Room 31

Twin Room 2

Triple Room 13

Total 49

Floor Singles Doubles Twins Triples Total

Basement 1 6 - 1 8

Ground 1 1 - 1 3

First - 6 - 2 8

Second - 5 - 3 8

Third - 4 - 4 8

Fourth - 5 1 2 8

Fifth 1 4 1 - 6

Total 3 31 2 13 49

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FLOOR PLANS

Lower Ground Floor

Ground Floor

First Floor

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FLOOR PLANS

Second Floor

Third Floor

Fourth Floor

Fifth Floor

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Important NoticeSavills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy them-selves by inspection or otherwise.

Designed and Produced by RDM Agency Ltd - www.rdmagency.co.uk

FURTHER INFORMATIONTenureFreehold. Unencumbered of brand or management.

TUPEThe purchaser will be required to comply with the relevant legislation in respect of current employees.

Inventory & Stock Fixtures, fittings and equipment are included in the sale with general stock and valuation. All kitchen equipment and plant is owned by the hotel.

EPCThe Prince William Hotel has an Energy Performance Certificate(EPC) rating of C.

Business RatesRateable Value for the Prince William Hotel is £302,500 with total business rates payable for 2019/2020 at £164,863.

Transaction Structure, Process and TimingThe Hotel will be sold by way of an asset sale of the freehold property the Prince William Hotel.

Formal inspections of the Hotel will be made strictly by appointment with Savills. Under no circumstances should direct contact be made with the Hotel or any members of its staff.

ViewingStrictly by prior appointment.

Gary [email protected]+44 (0) 207 409 9902+44 (0) 7967 555 678

Joshua O’RourkeGraduate [email protected]+44 (0) 207 409 8031 +44 (0) 7816 530 609

Contacts For further information please contact:

Alex [email protected] +44 (0) 207 535 3339+44 (0) 7796 185 197

Charley [email protected]+44 (0) 207 075 2859+44 (0) 7976 746 634

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