GMS Estates has put Kingsway House and the adjacent 4 Great Queen Street in London’s Covent Garden on the market for £25m+.
Planning permission has been granted to transform the site into an 80-bedroom hotel with an additional commercial unit, including the erection of a new seven-storey building on the site of 4 Great Queen Street.
The proposed development will extend to more than 51,000 sq ft with the approved plans retaining the period façade of Kingsway House, which sits within the Kingsway Conservation Area.
James Bater, associate at Knight Frank, which has been appointed to market the site, said: “Opportunities to acquire a consented hotel development of this scale and quality in the heart of central London are exceptionally rare. Kingsway House combines an outstanding Covent Garden location with a de-risked planning position and clear route to development at a time of strong demand for well-located hotel accommodation in the capital.
“Against a backdrop of constrained new supply, year-round visitor demand and London’s enduring appeal as a global leisure and business destination, the opportunity presents compelling investment fundamentals alongside significant potential to create long-term value through the delivery of a high quality, income generating asset in one of the capital’s most established locations.”
