Capilon and Awan buy Paddington’s Prince William hotel

Capilon Hotels and real estate investor Awan Group have completed a deal to buy the Prince William Hotel in Paddington, W2. The Elite Group sold the boutique hotel, held in a vehicle called Gloucester Property Group, for £15m. The townhouse property, at 42-44 Gloucester Terrace, occupies a corner plot with frontage on both Craven Road and Gloucester Terrace, and has recently undergone a £1m refurbishment programme. It is located close to Paddington station, and nearby tourist attractions include Buckingham Palace. Alex Sturgess, director in the hotel capital markets team at Savills, which advised the buyers, said: “The wider area is currently undergoing significant redevelopment and, combined with both excellent transport links and proximity to popular tourist attractions, proved extremely attractive.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews See which agents are doing the most deals in the London submarkets with our On-Demand Rankings >>