Nadler Hotels to open 56-room Covent Garden property

George Sell By George Sell
30 May 2016 | Updated 30 May 2016

UK: Nadler Hotels has acquired Walter House in London’s Covent Garden, and will convert ti to a 56-room boutique hotel.

UK: Nadler Hotels has acquired Walter House in London's Covent Garden, and will convert ti to a 56-room boutique hotel.

Nadler Hotels acquired the freehold of the office building, on the eastern corner of the Strand and Bedford Street, from Legal & General Property, on behalf of its UK Property Fund.

On opening it will be the fourth Nadler property in London and fifth overall, joining The Nadler Kensington, The Nadler Soho, The Nadler Victoria and The Nadler Liverpool.

Robert Nadler, CEO of Nadler Hotels, said: "Covent Garden is the perfect location for the latest Nadler hotel. Our objective has always been to deliver four-star rooms with five-star service based around an ethos of sustainability, and this new hotel will be no different, complementing both the area and our existing locations."

Matt Jarvis, fund manager of the Legal & General UK Property Fund, said: "The sale of Walter House marks an end to our successful business strategy for this asset. The property has performed very well for the fund compared to the wider market over its hold period, and this subsequent sale allows us to crystallise those returns for our investors."

Gerald Eve advised Nadler Hotels on the transaction, while Legal & General Property was represented by CBRE as sole agent.

www.thenadler.com

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