Kensington Forum hotel sold and set to close for refurbishment next year
GP Hotel-UK London has purchased the entire shareholding in Queensgate Bow UK Parent, the owner of the 906-bedroom Kensington Forum hotel in London.
The purchase is backed by Koh Wee Meng, founder of Singapore-listed property developer Fragrance Group. The sale price was undisclosed.
A statement said the hotel required "extensive works to ensure that it remains fit for purpose" and so the plan was to close the hotel early in 2022. The building will then be completely stripped out before a full re-fit later in 2022.
Patrick O'Connell, head of hotels at Queensgate Investments, said: "I am pleased to confirm the transaction has completed for the sale of Kensington Forum hotel."
The Greater London Authority gave the green light to Queensgate Investments' £1b redevelopment plans for the hotel last year. The group bought the property in 2015 for £400m. The plans included a 1,100-bedroom hotel and serviced apartment scheme and 62 affordable homes, replacing the current property, the largest Holiday Inn in Europe.
Fragrance Group owns the Imperial hotel in Blackpool, the Palace hotel in Torquay, the Townhouse hotel in Manchester, the Crown hotel in Harrogate and is developing a hotel on the site of Bath's Royal Mineral Water Hospital and Liverpool's Municipal Buildings.
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