UK: Germany-based boutique hotel brand AMANO has expanded in London with the £20 million acquisition of Waterman Home, situated near its unique web site in Covent Backyard.
Manex Properties, a joint enterprise between Berlin-headquartered AMANO and London-based funding agency Excellion Capital, accomplished this acquisition on the twenty ninth September. The location was purchased from Regal Lodges Worldwide Holdings.
Waterman Home was previously an workplace constructing and identified traditionally because the London headquarters of Waterman Pens. It can now be reworked right into a boutique lodge with 70 rooms and a ground-floor retail idea.
Organized over 9 flooring, the lodge joins the prevailing AMANO flagship in Covent Backyard. With the 2 inns situated inside a two minute stroll, the properties will likely be operated by a single crew.
Philip Rokeach, director of AMANO Group, stated: “Our imaginative and prescient – to convey Berlin’s aptitude to London – was efficiently achieved with Resort AMANO Covent Backyard, our first London lodge. The market’s response – occupancy ranges which are persistently effectively within the 90’s – has been so constructive that buying Waterman Home now appears like a pure subsequent step. That is the suitable time to broaden our presence right here and we’re delighted to deepen our dedication to London. We look ahead to making additional investments and to rising our London model.”
Robert Stafler, director of AMANO UK and Manex Properties, added: “At this time’s completion concludes a fancy 10-month cross-border M&A course of. We’re thrilled to have secured a property we have now had our eyes on ever since we purchased Drury Home. Waterman Home has a lot architectural heritage and we’re excited to convey this derelict central London asset again to life – to revive its magnificence and remodel it right into a vacation spot each bit as distinctive because the flagship AMANO Covent Backyard.”
Highlights:
• AMANO has expanded its presence in London with the £20 million acquisition of Waterman Home close to Covent Backyard.
• The property was acquired by Manex Properties, a three way partnership between AMANO and London-based Excellion Capital, from Regal Lodges Worldwide Holdings.
• Previously the London headquarters of Waterman Pens, Waterman Home will likely be reworked right into a 70-room boutique lodge with ground-floor retail area.
• Organized over 9 flooring, the brand new lodge will function alongside AMANO Covent Backyard, with each properties managed by a single crew.
