Z Hotels has listed its Leicester Square hotel at Garrick House, 3-5 Charing Cross Road, WC2.
It is structured as a sale-and-leaseback deal, with offers invited at a guide price of £42m for the freehold interest. The deal includes a 35-year leaseback to Z Hotels.
The hotel comprises 95 rooms across four floors and a basement restaurant.
The proposed hotel lease is structured around a five-yearly reviewed rent, indexed to CPI, and a separate ground-floor restaurant lease to Steak & Co.
Z Hotels acquired the property from Kent County Council in 2023 for £19.7m and converted the former office into a hotel.
The hotel will be fully operational by June 2025.
Z Hotels has appointed Avison Young and JLL to market the sale of the hotel.
Image from Z Hotels
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