Park Lane's Metropolitan by COMO hotel sold for £40m
The freehold of the 144-bedroom hotel, which includes 19 extended stay apartments, was put up for sale in June by owners Canada Life Investors who were seeking more than £40m.
More than 100 enquiries were made about the property, which became The Metropolitan by COMO in 1997, within a week of it going on the market with a number of offers made by domestic and overseas investors before the final bid was accepted.
Jonathan Parrish, director and head of investment at Christie & Co, said: "The exchange of contracts with the new owner took place within two weeks of agreeing a sale. The speed of the sale, and the achievement of a sale price in excess of asking price, emphasises what a rare opportunity this was, and confirms the strength of the investment market in London.”
As well as Nobu, the property houses the Met Bar and the Colony Club Casino. The investment comprises 102 of the hotel's 144 rooms and nine of its apartments.
