The three-star site began trading in November 2015 and is operated under a 20 year-term franchise agreement with IHG Hotels Limited.
The Kazemi family plan to build out additional rooms and continue to operate the site under the IHG brand.
The site was the first hotel in the UK to be designed and managed under the Generation IV brand specification, which is made to target today’s ‘Smart Traveller’.
It caters to a strong mix of corporate and leisure guests throughout the week, with higher volumes of leisure bookings recorded over weekends.
The site features 80 modern en-suite bedrooms, spread over four floors. There is also a reception area, bar and dining area as well as a lobby and meeting and conference rooms. Planning permission for an additional 28 rooms has now been approved.
Andrew Evangelou, director and head of London Hotels in Christie and Co’s Hospitality team handled the sale, and said: “Following the launch of this impressive hotel to market, we received a tremendous level of interest from both domestic and international buyers.
“And despite facing real market challenges when marketing the property throughout 2020, due to the COVID-19 pandemic, we are delighted to announce the successful completion of this sale, which underlines how London hotels are still very much in high demand.”
Leyla Kazemi said: “Andrew has been most helpful overseeing the entire sales process from start to finish. We would like to thank him for all his efforts in bringing the sale to a successful conclusion.”