HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong...

7
HAMMERSMITH | LONDON | W6 0QW

Transcript of HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong...

Page 1: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

HAMMERSMITH | LONDON | W6 0QW

Page 2: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

INTRODUCTIONKnight Frank LLP has been instructed as Sole Selling Agent to dispose of

the Seraphine Hammersmith Hotel which is being offered to the market. The

property is in a prominent location within close proximity to Hammersmith

underground station. The hotel comprises of 62 en suite bedrooms,

reception, bar, breakfast area, meeting room and two retail units.

Viewing by appointment only.

These particulars are intended only as a guide and must not be relied upon as statements of fact. Your attention is drawn to the Important Notice on the last page of the brochure.

‘High quality accommodation in Central London’

Page 3: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

62 en suite bedroom hotel in the heart of Hammersmith

Meeting facilities with capacity for up to 17 delegates

Majority of the building is freehold and part is leasehold

Breakfast area, lounge and bar

Sites / Attractions Approximate Distance (Miles)

Chelsea Football Club 2 miles

Hyde Park 2 miles

Fulham Football Club 2 miles

Buckingham Palace 3 miles

Big Ben 4 miles

THE LONDON MARKETLondon’s success as one of the world’s leading global

financial markets, a leading and growing tech centre

and a global gateway city with a rich and diverse cultural

offering, has allowed London’s hotel market to strengthen.

Today, London is one of the best performing hotel

markets in both Europe and on a global basis, with hotel

occupancy typically hovering between 82.5% and 83.5%

on an annual basis. London experiences high levels of

frustrated demand during peak months, where demand

for hotels has exceeded supply, due largely to a balance of

corporate, conference and meeting and leisure demand.

After a strong year of trading performance during 2017,

growth rates in 2018 prior to the summer months showed

marginal declines. However, during the second half of

2018, trading at London’s upper upscale and luxury hotels

grew strongly, demonstrating the capital’s robustness

despite the significant growth in new supply.

HAMMERSMITHA4 A4

King St

King StChiswick High Rd

Cas

teln

au

Fulh

am

Pala

ce R

d

A315

Go

ldh

aw

k R

d

Pad

densw

ickRd

A21

9

HAMMERSMITHA4 A4

King St

King StChiswick High Rd

Cas

teln

au

Fulh

am

Pala

ce R

d

A315

Go

ldh

aw

k R

d

Pad

densw

ickRd

A21

9

RIVER THAMES

A315A315

StamfordBrook

RavencourtPark

Hammersmith

Barons Court

WestKensington

WESTKENSINGTON

StamfordBrook

RavencourtPark

Hammersmith

Barons Court

WestKensington

WESTKENSINGTON

KensingtonOlympia

KensingtonOlympia

Three star rating

Two retail units on the ground floor generating £193,000 per annum

The hotel is to be sold vacant possession and as a transfer of going concern

The hotel is trading profitably and the business has the potential to grow further

LOCATIONThe hotel is located on King Street minutes away

from Hammersmith & Ravenscourt Park underground

stations. Considered to be the heart of West London,

Hammersmith is a major transport hub with excellent

connectivity links into Central London and The City via the

District and Piccadilly line. The surrounding area includes

several restaurants and bars, retail shops, and tourist

attractions.

The hotel is in close proximity to major airports with

Heathrow Airport being just 22 minutes drive miles away

and City Airport just 17 miles away from the property. Being

in close range to A4 junction makes to property easily

accessible by car.

There are a number of tourist attractions in the local

area. These include Holland Park, Fulham Palace, Design

Museum, and Hammersmith Apollo.

Holland Park

Oxford CircusHouses of Parliament and Big Ben

NOTE: For identification purposes only. NOT TO SCALE

4 HAMMERSMITH | LONDONSERAPHINE HAMMERSMITH HOTEL 5

Page 4: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

BRANDINGThe hotel is being sold subject to a franchise agreement

with Best Western under their SureStay Collection brand.

The franchise agreement commenced on 4 February

2019 and will expire on the 31 December 2021. It can

also be terminated by giving 12 months’ notice. Under

these circumstances the owner will be liable to pay early

termination fees for the unexpired term including loss of

earnings.

THE PROPERTYThe property is arranged over ground and two uppers

floors which are accessed via a lift and staircase located

close to the main entrance. The hotel provides 62 en suite

bedrooms, of which two are accessible rooms. On the first

floor there is a dedicated lounge with licenced bar which

provides up to 30 covers and a meeting room that has a

maximum capacity of 17. Free Wi-Fi is provided throughout

the property. The hotel website can be seen at:

www.seraphinehammersmith.co.uk

RETAIL ELEMENTThe hotel comprises two retail units on the ground floor and are leased on the following terms:

Tenant Moss Bros Group PLC

Date of Lease 1 October 2013

Contractual Term 10 Years

Rent £103,000 per annum

Rent Review 1 October 2013

Tenant Cashino Gaming Ltd

Date of Lease 25 March 2016

Contractual Term 10 Years

Rent £90,000 per annum

Rent Review 29 September 2021

PUBLIC & ANCILLARY AREASThe hotel’s kitchen is located on the first floor, as are the

additional back facilities, which include a laundry room and

staff room. Linen stores are located on all floors of the hotel.

92 - 94 KINGS STREET 84 - 86 KINGS STREET

6 HAMMERSMITH | LONDONSERAPHINE HAMMERSMITH HOTEL 7

Page 5: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

Bedroom Type Number of Rooms

Single 3

Double 50

Family 7

Accessible 2

Total 62

ACCOMMODATIONThe 62 en suite bedrooms are located over ground

and two upper floors. Each room as a minimum is air-

conditioned and has 24 hour room service, a flat screen

television, telephone, tea & coffee facilities and free Wi-Fi.

8 HAMMERSMITH | LONDONSERAPHINE HAMMERSMITH HOTEL 9

Page 6: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

Kostas Erotokritou

+44 (0) 207 861 1249

+44 (0) 787 039 3299

[email protected]

Henry Jackson MRICS

+44 (0) 20 7861 1085

+44 (0) 776 775 4386

[email protected]

Viewing is strictly by prior appointment. Please contact:

55 Baker Street

London

W1U 8AN

+44 (0) 20 7629 8171

www.knightfrankhotels.com

IMPORTANT NOTICEPlease note, neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property. Knight Frank LLP accepts no responsibility for the contents of this brochure and the information within it should not be relied upon as statements of fact concerning the property, its condition or value. This brochure does not constitute, in whole or in part, an offer or contract. Any buyer, lessee or otherwise interested party must satisfy themselves through their own investigations, surveys, enquiries and inspections that the property is suitable for their purposes and that the information in this brochure accurately depicts the property. Knight Frank is the trading name of Knight Frank LLP. Knight Frank LLP is a limited liability partnership registered in England and Wales with registered number OC305934. Our registered office is at 55 Baker Street, London W1U 8AN where you may look at a list of members’ names. If we use the term ‘partner’ when referring to one of our representatives, that person will either be a member, employee, worker or consultant of Knight Frank LLP and not a partner in a partnership.

If you do not want us to contact you further about our services then please contact us by either calling 020 3544 0692, email to [email protected] or post to our UK Residential Marketing Manager at our registered office (above) providing your name and address.

Particulars dated: September 2019. Photographs dated: Various.

© Designed & produced by Bespoke Brochures | bespokebrochures.co

ADDITIONAL INFORMATIONEPCEPC to be provided upon application.

DATA ROOMAccess to a secure online data rooms is

available upon request.

FIRE RISK ASSESSMENTWe understand that the property complies

with the Regulatory Reform (Fire Safety)

Order 2005.

PRICE£15,000,000.

TENUREFreehold (45 bedrooms).

Part Leasehold (17 bedrooms).

LICENSESWe are advised that the hotel operates with

a Premises license.

SERVICES We have been verbally advised that

the property is connected to main gas,

electricity and water.

LOCAL AUTHORITYLondon Borough of Hammersmith and

Fulham.

10 SERAPHINE HAMMERSMITH HOTEL

Page 7: HAMMERSMITH | LONDON | W6 0QW...corporate, conference and meeting and leisure demand. After a strong year of trading performance during 2017, growth rates in 2018 prior to the summer

SERAPHINEHAMMERSMITH.CO.UK