Evans Randall is seeking offers above £25m for the four-star freehold Croydon Park Hotel. The value would reflect a 6.5% yield.
CBRE has been appointed to advise Evans Randall on the sale.
Kent Gardner, chief executive of Evans Randall, said: “Given the uplift in Croydon’s fortunes, including substantial investment in infrastructural and place making improvements, this well-performing asset is well placed for its next phase of life and offers a range of options for the incoming investor.”
David Fraser, senior director of London investment at CBRE, added: “Croydon provides an interesting and dynamic alternative to central London and is now piquing the interest of a global audience thanks to the scale and quality of its regeneration.
“The investment prospect of Croydon is now such that its opportunities appeal to a wide variety of investors and we expect significant interest.”
Long-term asset management initiatives for the site include hotel branding, an extension to “realise the full potential” of its 1.54 acre site, and a future change of use to residential, subject to obtaining planning and other consents.
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