JR Capital Group Spends £20m in W2
By Joanna Bourke – Estates Gazette | Residential | 24-08-2012
JR Capital Group has bought the 80-bed Leinster Inn hotel, W2, for £20m for a redevelopment, on behalf Of Middle Eastern clients.
The firm has appointed Alchemi Group development manager of the Grade II-listed building. It will seek planning consent to redevelop it into up to 20 luxury flats.
The six-storey building is located just off Westbourne Grove, and area expected to keep experiencing rental and residential uplifts.
John Collier-Wright, managing director of JR Capital, said: “The property offers an opportunity to carry out a high-quality conversion in one of Central London’s last remaining undeveloped garden squares and will compliment Westminster council’s recently announced streetscape improvements in the Queensway and Westbourne Grove area.”
It marks the fifth time JR and Alchemi have teamed up.
Michael Sharron & Co acted for the buyer; Christie + Co represented the vendor Carven Properties.