Vacant hotel in London on the market for offers over £60m

Following administration, the 193-bedroom Berners hotel near Oxford Street in London, has been put up for sale, with an asking price of more than £60 million.

The property was previously owned by JJW Hotels & Resorts - which also owned the Eton Collection of seven boutique hotels - which was placed into administration earlier this year. KPMG's Jane Moriarty and James Tucker were appointed joint administrators of the hotel in August.

Berners - which was originally five houses dating from 1835 – has been closed for refurbishment and upgrade work since 2006, so the new owner will have the opportunity to customise the interior design.

Michelle Webb, senior vice-president at Jones Lang LaSalle Hotels, who is managing the sale, highlighted the fact that much of the refurbishment work has already been completed, and planning consent was also in place, so the hotel was at the 'perfect stage for an investor to buy the building and finish the development to their preferred specification.'

“The hotel is a rare freehold, trophy property development opportunity. It's a fantastically located hotel in one of London's most sought after districts, so we expect there to be a high level of interest in this sale from a diverse range of players,” she added.