Qbic London City hotel sold and rebranded
The lease for the former Qbic London City hotel has been sold to Great Portland Estates and the property rebranded as the Corner London City.
The lease of the 183-bedroom eco-focused hotel was put up for sale earlier this year for an undisclosed price. The hotel opened in 2013 and was the second Qbic hotel to launch following the original in Amsterdam. The brand has since expanded to Brussels and Manchester.
Christie & Co received 75 signed NDAs and called for two rounds of bids before a final deal was completed in excess of the original guide price.
RBH Hospitality Management has been appointed the new operational management team. New general manager Arun Kumar and the RBH team completed the rebrand in three months including the installation of self-service check-in stations. The group said the property's green credentials would "continue to evolve".
Jeremy Jones, director and head of brokerage at Christie & Co, who led the sale, said: "The interest generated in the Qbic London City really took us by surprise, particularly considering the challenges the pandemic has created however, it's not every day that you get such a sizeable leasehold asset come to market in the heart of the city that is free and clear of its current branding, so it was a unique opportunity.
"The multiple viewings and offers enabled us to leverage a great outcome for our clients, with the hotel selling for materially ahead of its guide price."
David Hart, chief executive of RBH said: "The takeover and rebrand of the Corner London City on a tight timetable is one of many exciting projects we've been delighted to work on this year and the uniqueness and vibrancy of the property is an excellent addition to our growing portfolio.
"The efficiency and determination of the entire team to execute a rebrand of this nature is testament to their fervour for getting back to what they know and love as quickly as possible – delivering exceptional hospitality."
RBH manages 13 properties in London, with two openings coming up this autumn: Gantry London, Curio Collection by Hilton and Westin London City.
