Forsters advises new client on the acquistion of the London Marriott Hotel Grosvenor Square
Leading Mayfair law firm Forsters has provided a multi-disciplinary team to advise on the acquisition of the luxury 5 star hotel, London Marriott Hotel Grosvenor Square.
The London Marriott Hotel Grosvenor Square was formerly a stately townhouse, it is now a 225 room hotel that is also home to two Gordon Ramsey restaurants, Michelin-starred Maze and the Maze Grill. The hotel has a 24-hour fitness centre and event space measuring nearly 10,000 square feet which consists of ballrooms and conference rooms.
Forsters has advised new client Hong Kong based Joint Treasure International Limited on the acquisition for approximately £126 million. Acquired as a standing investment, Marriott International will continue to run the hotel under a management agreement.
Howard Gill, Real Estate Partner at Forsters commented: "The acquisition of the London Marriott Hotel Grosvenor Square has further reinforced Forsters' position as one of the leading real estate practices in London. The ability to provide our client with a full service offering with the added element of hotel-sector expertise covering everything from corporate, employment, real estate finance, construction and planning advice has allowed us to execute this complex and time pressured deal smoothly and in line with our clients requirements."
Howard Gill (commercial real estate) led the team on the acquisition. He was supported by Ronan Ledwidge and Peter Selwyn (commercial real estate), Craigie Pearson, Shalin Punn and Simon Osborne (corporate and hotel sector team), Caroline Fallon (employment), and Sarah Cook and VanWyck Johnson (construction).
Paul Hastings LLP represented the vendor, SHR Grosvenor Square LLC, a Delaware company.