_Knight Frank completes the sale of The Red Lion Hotel
Global property adviser Knight Frank has completed the sale of The Red Lion Hotel, on behalf of hotelier and property investors Mandip & Sam Gill of MG Hotels, to private investor Grace Leo, in conjunction with Singapore-based shipping entrepreneur and hotel investor, Tim Hartnoll, for an undisclosed sum.
The property, which is Grade II listed and dates back to the fifteenth century, is situated in central Henley on the western bank of the River Thames. Comprising 35 bedrooms and extensive dining and events facilities, The Red Lion has planning permission to add further bedrooms within the existing footprint in addition to the potential to further extend.
The Red Lion is an historic waterside fifteenth century coaching inn located in the picturesque market town of Henley-on-Thames, which is renowned for hosting the annual Royal Regatta and the Henley Festival of Music and Arts.
Henley-on-Thames has strong connectivity to nearby towns including Maidenhead and Reading in addition to rail services to London Paddington and international travel available via close proximity to Heathrow Airport, situated just over 20 miles away.
Henry Jackson, Head of Hotel Agency and Partner at Knight Frank, commented: “We are pleased to have completed the sale of The Red Lion Hotel in exceptional circumstances and to have achieved a yield of approximately 7%, with both buyer and seller pleased with a successful outcome.
“We are experiencing an uptick in activity with increased interest in assets such as these from a range of domestic and international buyers and are increasingly identifying overseas capital targeting the hotel leisure market, who are keen to look at staycation destinations.”
Grace Leo, commented: “After a prolonged search, Tim and I are delighted to have acquired The Red Lion Hotel. We see enormous potential for the property especially in a post Covid-19 world in which we envisage that domestic tourism will become increasingly important, and changing working patterns mean that properties such as this have the potential to re-establish themselves as important community hubs.
Now, we plan to embark on an extensive refurbishment process, drawing on my years spent in France and England, in order to create a chic and comfortable hotel, an excellent restaurant and a convivial meeting place.”
Mandip Gill, Director of MG Hotels, commented: “We have enjoyed being a custodian of this magnificent hotel for the last 13 years. We are very pleased to have experienced a seamless process and to be able to hand the baton over to Grace and Tim for the next phase of the hotel.
“Our journey and focus will continue on our residential development/serviced apartment business as well as redevelopment and repositioning of the Manor Hotel, Datchet Windsor.
Knight Frank is active in the transactional hotel sector with approximately £40 million of assets under offer and has recently completed a string of deals including Patshull Park Hotel and Barnsdale Hall Hotel.
Knight Frank acted for the vendor Mandip Gill.
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