The hotel had been owned and operated by the Lis family for two generations, spanning over 60 years. The sale has now enabled Mr & Mrs Lis to embark on retirement and ensure the hotel’s legacy is preserved through the future interests of the new owners. Mr Lis comments, “As a family, we are thrilled with the result and now look forward to the next chapter of our lives. Both Andrew and Justin at Christie & Co provided our family with the upmost professionalism throughout this process, which we are immensely thankful for.”
The purchasers, who already have existing hotel assets within the UK, now intend to invest additional capital into the hotel, including a full refurbishment, with the aim to substantially enhance its quality and guest experience.
Andrew Evangelou, Director and Justin Davies, Senior Broker at Christie & Co oversaw the transaction and comment, “During the disposal process of the Beaver Hotel, we undertook in excess of 15 individual viewings and received bids from five interested parties. Bids were submitted on a cash and debt funded basis from both domestic and overseas hotel operators.
“The successful sale of the Beaver Hotel reinforces how London remains to be an attractive market for both domestic and foreign investment. Furthermore, the sale demonstrates that when an opportunity to acquire a sizable London freehold hotel presents itself, we receive substantial interest from a range of prospective purchasers.”
Property advisers, Dron & Wright acted on behalf of the purchasers.