The Exhibitionist hotel in London sold for £10.6m

The Exhibitionist hotel in London's South Kensington has been sold to hotel and development company 4C Hotel Group for £10.6m.

The 37-bedroom boutique property, which is located across two inter-connecting Victorian buildings, was marketed on behalf of an unnamed buyer by BNP Paribas Real Estate with an asking price of £9.25m.

The hotel is leased to Honeymaster, headed by directors Gopi and Manhad Narula. The lease is due to expire in 2037 and is subject to an upward-only rent review every four years.

4C Hotel Group owns hotels in the UK, Canada, Ethiopia and Zanzibar. Its eight-strong UK portfolio is dominated by branded properties including Canopy by Hilton London City, Westin London City and Holiday Inn Camden.

It is the first time the freehold of the hotel has been sold for 75 years.