THE International property company owned by Buncrana born developer Pat Doherty has just agreed a deal to sell its five-star hotel overlooking Chelsea Harbour in London for €77.6 million.
Harcourt Developments closed the deal to sell the Wyndham Grand Hotel to Millennium and Copthorne Hotels, a British based hotel operator.
The luxury hotel which comprises 158 suites, a spa and a restaurant overlooking Chelsea marina was put on the market as the capital’s only five-star luxury all-suite hotel.
Harcourt Developments holds a long-term lease on the property with the freehold held by European real estate firm Marcol.
Harcourt Developments has a portfolio of hotels, shopping centres, including Letterkenny Shopping Centre and other interests in Britain, Jersey, the Bahamas and the USA. The company also jointly developed Titanic Quarter in Belfast including the iconic Titanic Belfast tourist attraction. The firm is also behind the luxurious Solis Lough Eske Castle in Donegal Town. It is the county’s only five-star hotel.
Kwek Leng Beng, Chairman of Millennium and Copthorne Hotels commented that they were delighted to acquire the property which he said fits well with their existing London portfolio.
“The Chelsea Harbour is one of the few hotels in the city to offer all-suite guest accommodation and is situated in a prestigious riverside area that will be going through further transformation and improvement in the future,” Mr Beng said.