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Savills to launch £1bn Mayfair hotel & retail portfolio to market

The Westbury Hotel owner Cola Holdings has instructed Savills to seek offers for its freehold luxury investment portfolio in Mayfair.

The 225-bedroom hotel, the Burberry store on Bond Street and Washington House is a self-contained building occupied by the private members Conduit Club.

Anthony Selwyn, co-head global retail at Savills, said: “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.

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

Having owned the hotel for in excess of 20 years, the Cola Family has received planning permission to extensively redevelop the existing hotel building, which will include an extension to the rear, the rebuild of the sixth and seventh floors and a new eighth floor.

This will enable a reconfiguration of the floors to create larger rooms and a suitable number of suites to attract luxury brands.

The portfolio is expected to achieve in excess of £1bn.

Robert Stapleton, director of Savills EMEA Hotels, added: “The sale of The Westbury presents a once in a generation opportunity to acquire one of London’s most sought-after hotels and, with the benefit of the planning consents we’ve secured, the hotel can be substantially remodelled and extended to create one of London’s finest hotels befitting its extraordinary prime Mayfair location.”