CBRE advises on the sale of Park Lane Mews
Global real estate advisor, CBRE, has advised casino giant Genting UK on the sale of Park Lane Mews estate to Bain Capital Credit and Orka Investments.
The asset is located on Stanhope Row and Hertford Street in one of the most affluent and exclusive West End districts of Mayfair, moments away from Park Lane, Hyde Park and Knightsbridge.
The estate totals 48,265 sq ft and includes the 72-bedroom Park Lane Mews Hotel, two residential buildings comprising 13 apartments, and an additional four vacant residential units. It is one of the last Mayfair redevelopment opportunities to be offered freehold and with full vacant possession, with the option to increase the footprint by up to 20%.
This deal is one of the largest hotel transactions in London this year and presents a major redevelopment opportunity to reconceptualise a prime real estate asset. Mayfair is one of the most prestigious hotel locations in the world and we saw significant interest in Park Lane Mews from domestic and international capital looking to capitalize on the hospitality sector in the future.