The BoTree hotel in London put up for sale

The BoTree hotel in London’s Marylebone has been put up for sale on a “vacant possession basis” a year after opening.

 

The 199-key, purpose-built property is part of Place III Hotels group and launched last autumn with 30 suites and 21 accessible rooms. It also features food and beverage outlets run by Tao Group Hospitality, which owns Hakkasan.

 

JLL Hotels & Hospitality Group has been appointed to advise the sale of the hotel.

 

The freehold of the hotel is available to buy on a full vacant possession basis without any brand affiliations.

 

It also includes proposals for the property to be extended into 219 rooms.

 

The original sponsor for the BoTree is now divesting the property, which cost £375m to build.

 

According to Bloomberg, the current owners are looking to accept a price “above the outstanding value of debt”, which is believed to be in the region of £275m.

 

Will Duffey, head of EMEA hotel capital markets at JLL, said: “The BoTree presents a truly one-of-a-kind opportunity to acquire a best-in-class asset in one of London’s most desired locations and provides direct exposure to the most sought-after hotel market globally.

 

“The availability of acquiring the hotel on a vacant possession basis is an extremely rare offering, with only one West End freehold single asset transaction above 100 keys in the upscale/luxury space having traded since 2018.”

 

The BoTree was built by EPR Architects, which has also worked on projects at the Rosewood London in Holborn and Sheraton Grand London Park Lane in Mayfair.