Westbury Hotel owner seeks £1bn portfolio sale

By Sophie Witts contact

- Last updated on GMT

The AW Restaurant at The Westbury
The AW Restaurant at The Westbury

Related tags: Hotels

The owner of the Westbury Hotel in London’s Mayfair has put the property on the market as part of a wider portfolio sale.

Cola Holdings is seeking offers in excess of £1bn for its luxury estate, which includes the Burberry store on Bond Street and the Washington House building occupied by the private members Conduit Club.

The company, founded by Kurdish-born Bakir Cola, bought The Westbury in 1999 and recently acquired planning permission to redevelop the hotel. Proposals include building a rear extension and an eighth floor to create larger rooms and suites.

“It is extremely rare for a mixed use freehold opportunity like this to come to market with exceptional hotel development potential and existing ultra- prime retail,” says Anthony Selywyn, co-head of global retail at Savills.

“We expect investors from all over the globe to be very competitive in their attempts to secure this fantastic trophy in London.”

The Westbury opened in 1995 and is home to the Michelin-starred AW restaurant, which made headlines last year following the dismissal of long-time chef patron Alyn Williams.

The timing of the sale could see Cola compete for buyers with the London's Ritz Hotel, which has reportedly attracted offers exceeding £1bn.​  

Related topics: Business & Legislation

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