Singaporean investor KOP Group has paid close to the guide price of £35 million for the Burns Hotel, which occupies five Georgian townhouses in Barkston Gardens in Earls Court, west London.
The hotel comprises 105 en-suite bedrooms, ranging from single, double and family rooms, a reception, bar and restaurant. The vendor has not been disclosed but is Top Valley Corporation, according to CoStar data.
Henry Jackson, head of hotel agency at Knight Frank, said in a statement: “Working with [KF agent] Kostas Erotokritou, the sale of the Burns Hotel demonstrates investors’ continued appetite for London hotel assets and the resilience in the sector. This is the second hotel Knight Frank has sold in this area and we have seen increased levels of activity from a variety of different types of buyers. This should be seen as encouraging signs for owners who are considering their options.”
KOP Group will refurbish the hotel and reposition the business under its Montigo Resorts brand.
Earlier this year it bought the Charlton House Hotel & Spa in Somerset via its public vehicle, KOP Limited. The group will officially launch its Grade II listed, 28-room English country house in Somerset in summer 2023.
Leny Suparman, group chief executive and a founder of KOP, said: “Our latest purchase, in one of London’s most affluent and sought-after locations, is an exciting milestone for the Group. It demonstrates our commitment to growing our lifestyle portfolio of upscale, exciting properties for business and leisure in the UK market. We are also looking forward to introducing Asian hospitality to this part of the world, via our own hospitality brand, Montigo Resorts.”
Private company KOP owns assets including The Ritz-Carlton Residences and Hamilton Scotts in Singapore and 10 Trinity Square in London. It operates all of its real estate interest through its public arm, KOP Limited, of which KOP Group is a substantial shareholder.