Saudi investors linked with London’s Grosvenor House

A consortium consisting of Saudi and British-based wealth funds has launched a $1.3bn bid for London’s Grosvenor House Hotel and other stakes in US and Indian assets, according to a report in London’s Financial Times

Grosvenor House in London.
Grosvenor House in London.

The hotel is currently owned by India’s Sahara Group. It bought the 494-room property, operated by JW Marriott, in 2010 for £470m.

The UK family office 3 Associates submitted the new all-equity offer on Tuesday, according to the FT. It said most of the cash came from a Saudi family that runs a private wealth fund out of Dubai, it added.

Jesdev Saggar, managing director of 3 Associates, told the FT the potential deal represented “one of the largest in the industry and a significant demonstration of confidence in London commercial property”.

You might also like

Comments are closed.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time