Hong Kong-based private equity firm Joint Treasure is selling its long-leasehold interest in the London Marriott Hotel Grosvenor Square, Mayfair, W1, for £200m.
It has instructed Eastdil Secured to market the 40-year lease on the five-star 237-bedroom hotel, which is home to Gordon Ramsay’s Michelin-starred restaurants Maze and Maze Grill.
The sale of the long-leasehold is subject to a long-term management agreement with Marriott.
A new owner could look to negotiate a deal to extend the lease with freehold owner Grosvenor or buy the freehold from it to create marriage value.
Joint Treasure acquired the long leasehold in 2014 from Strategic Hotels & Resorts for £125m.
