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05 April 2016 | Hotels

Bloomsbury stalwart changes hands for first time in 38 years

Specialist business property adviser Christie & Co has sold the Morgan Hotel in the heart of London’s Bloomsbury– a business which has been operated by the same family for 38 years.

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Located in the historic Bloomsbury Street, once the favourite hang-out of literary luminaries such as Virginia Woolf, John Maynard Keynes and E.M. Forster, the Morgan Hotel is a period brick-built townhouse with 14 ensuite letting rooms arranged over three floors. A second annexed building houses 4 self-contained apartments with 3 ensuite letting bedrooms.

The Morgan Hotel has been owned and operated by the Ward family since 1978.

Andrew Evangelou, Director - Hotels at Christie & Co handled the deal on behalf of the vendors and commented: “The Ward family have loved and cared for the Morgan Hotel since the late 1970s, and after 38 years have decided to hang up their operator hats and enjoy a well-earned retirement.

“We’re delighted to have helped them pass the reins onto a keen, experienced operator who is looking to continue and expand on the success that the Wards have enjoyed over their years of tenure.

“Christie & Co experiences a high level of interest in this particular hotel, with 23 viewings arranged within a short marketing period, and multiple offers received on the business, showing that hotel businesses in the centre of London are still as attractive as ever.”

The Morgan Hotel was sold off an asking price of £1.75m.