London Grosvenor House Hotel up for Sale

21st January 2010 (Last Updated January 21st, 2010 18:30)

Luxury five-star hotel Grosvenor House has been put up for sale by owner Royal Bank of Scotland (RBS), owing to improvement in commercial property values. The sale will be handled by property agent CBRE and is expected to bring in between £600m and £700m, according to UK media reports.

Luxury five-star hotel Grosvenor House has been put up for sale by owner Royal Bank of Scotland (RBS), owing to improvement in commercial property values.

The sale will be handled by property agent CBRE and is expected to bring in between £600m and £700m, according to UK media reports.

The property is operated by Marriott and features 494 bedrooms.

The bank took over the property in 2001 and paid £1.25bn for 12 Le Meridien hotels. RBS first tried to sell the hotel in 2007.