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May 2005: Royal Bayswater Hotel, London, W2

bayswater estate agencies

5 period buildings on Lower Ground, Ground and four upper floors as a 2 star Hotel with two restaurants and one retail shop on the Ground floor, night club and restaurant on the Lower Ground floor. These properties are located on Bayswater road, close to Queensway, with superb views across Hyde Park.

Acting on behalf of the vendor Mr Poulengeris negotiated the sale of this property, which they had purchased 4 years earlier (see above) for the price £8,300,000.00. During 2006 and 2007, the owners received several offers to sell this property (two offers through Hyde Park Agencies), the highest offer being £16.5 million.

All offers to sell were refused by the owners who successfully applied for planning permission to demolish and built a mixed development of 22 Residential flats, retail shops and restaurant.

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