London Acquisition
KOP GROUP ANNOUNCES HOTEL ACQUISITION IN LONDON, UK
Singaporean investor, KOP Group, has acquired Burns Hotel, a 105-key hotel located within the Royal Borough of Kensington & Chelsea in London, off a guide price of £35m.
The purchase through Knight Frank was completed on 30 May 2023. This is the second hotel the Group has purchased this year following their acquisition of Charlton House Hotel & Spa in Somerset via its public vehicle, KOP Limited. The Group will officially launch its Grade II listed, 28-room English country house in Somerset in summer 2023.
Ms Leny Suparman, Group CEO and a Founder of KOP, said: “Our latest purchase, in one of London’s most affluent and sought-after locations, is an exciting milestone for the Group. It demonstrates our commitment to growing our lifestyle portfolio of upscale, exciting properties for business and leisure in the UK market. We are also looking forward to introducing Asian hospitality to this part of the world, via our own hospitality brand, Montigo Resorts.”
The Founders of KOP are familiar with the UK market, having owned and participated in the extensive refurbishment and renewal of 10 Trinity Square and the Cranley Hotel in London, amongst other ventures.
Overlooking Barkston Gardens, the newly acquired hotel comprises five inter-connected town houses, a large reception, bar, restaurant facilities and a private garden. Located in one of the most affluent and exclusive boroughs in London, the hotel offers easy access to the green open spaces of Holland Park and Kensington Gardens to the north and some of London’s finest cultural institutions in South Kensington to the northeast, including the Natural History Museum, Victoria & Albert Museum and Royal Albert Hall.
This hotel will undergo an extensive renovation to a boutique luxury hotel, and will be operated by Montigo Resorts, the hospitality arm of the Group’s public-listed entity, when it opens in the first quarter of 2024.
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