Singapore's CapitaLand Plans $325 Million London Hotel Sale
- Broker hired to offer Cavendish in upmarket St. James’s area
- A stay in the four-star hotel costs up to 1,100 pounds a night
The Cavendish Hotel in London
Photographer: SUZANNE PLUNKETTThis article is for subscribers only.
The owners of London’s Cavendish hotel in the upmarket St. James’s neighborhood hired brokers to sell the property for about 250 million pounds ($325 million), according to people with knowledge of the appointment.
Singapore-based CapitaLand Ltd. appointed Jones Lang LaSalle Inc. to offer the 230-bedroom hotel, which stands opposite the iconic Fortnum & Mason department store on Jermyn Street, said the people, who asked not to be identified as the process is private. CapitaLand bought the property in 2012 for a reported 158.8 million pounds.