Family-run hotel in central London sold for the first time in over 30 years
Specialist business property adviser, Christie & Co has successfully completed the sale of The Limegrove Hotel, in central London.
Located in the Pimlico area, The Limegrove Hotel occupies a stunning three-storey townhouse and is just a short walk from Victoria Station.
The nine-bedroom hotel has been in the same family for over 30 years and has been established as a successful and popular guest house for tourists. Mostly recently, the hotel has been operated by Joyce Goonetilleke and her late husband Nick.
Joyce comments, “We finally let go of our home and business after so many years, and can now move forward, sadly without beloved Nick, who worked so very hard all these years alongside us. We wish to thank Christie & Co that all has been completed smoothly, regarding the sale of our hotel.”
The new owners are private buyers from overseas, who are looking to expand their business into the busy and vibrant London marketplace. They plan to refurbish and modernise the hotel as they look to upgrade the facilities offered to their clientele.
The buyers have also recently acquired two more hotels in London and the acquisition of Limegrove will give them a total of circa 70 letting rooms. This will give them economies of scale and allow them to trade efficiently in a busy and competitive market.
Andrew Evangelou, Director at Christie & Co who handled the sale, comments, “I first met Joyce and Nick circa 20 years ago, and it was a real pleasure to act for them in the sale of The Limegrove Hotel. The family can now take some time to relax and enjoy the fruits of their dedication and hard work.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
Andrew Evangelou, Director - Hotels
M: +44 7917 372 426 or E: andrew.evangelou@christie.com
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