7 December 2012

Forsters advises the Crown Estate on sale of Les Ambassadeurs Club

Forsters has acted on behalf of the Crown Estate in relation to the sale of the freehold interest in 5 Hamilton Place, Mayfair, W1.

The £60m sale to a private overseas investor was completed within a tight schedule, including a timeframe of only two days between acceptance of the purchaser's offer and exchange of contracts.

Previously the site of Henry VIII's hunting lodge, the property has remained in the custody of the Crown Estate since 1537.

Now home to exclusive casino, Les Ambassadeurs Club, the prestigious Regency building dates back to 1810 and is Grade II* listed. The accommodation includes a private dining restaurant and bar. The lease with Les Ambassadeurs Club has been recently re-geared to provide for a term expiring in 2062 at an initial annual rent of £2.25m.

Forsters Senior Partner, Guy Jordan acted for the Crown Estate.

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