Fenton Whelan’s Aurium Real Estate London Ultra-Prime Fund has acquired the Royal Bayswater Hotel at 121 Bayswater Road, W2, for a £80m residential-led project.
The site, which has planning permission for a scheme comprising 22 luxury flats, was acquired from Hong Kong-based Richfield Realty Group. Fenton Whelan is believed to have paid more than £35m for the site.
The acquistion follows several smaller acquisitions made by the Aurium Fund in the surrounding area.
The Aurium Fund has also recently sold 31-35 Chesham Street, SW1. Acquired by the fund in September 2013, the scheme was sold with planning permission for six flats to an overseas development group for £30m.
annabel.dixon@estatesgazette.com
