LONDON The partially completed 193-key Berners Hotel in London’s West End is being shopped by Jones Lang LaSalle Hotels, which has been appointed administrators of Berners BVI.
The freehold property, which is available with vacant possession, has approval for an upscale hotel, which could be completed by early 2012.
Michelle Webb, a senior vice president at Jones Lang LaSalle Hotels who is managing the sale, says the property is a relatively rare opportunity to acquire a “realistically priced” hotel in London.
“This is a rare freehold, trophy hotel development opportunity with vacant possession,” Webb says. “With much of the refurbishment work already completed, and with planning consent in place, it is at the perfect stage for an investor to buy the building and finish the development to their preferred specification.”
Jane Moriarty and James Tucker are the joint administrators. Richard Stanley and Jemma McAndrew of Jones Lang LaSalle’s Real Estate Workout team were appointed LPA Receivers over the property in June, before the administration in August.
The hotel’s owner JJW Ltd., also owned the Eton Collection of hotels. Eton Group was also put into administration earlier this year.