German investor Deka is in advanced discussions to buy the Malmaison hotel in the City.
Deka is set to pay £32m in a sale and leaseback deal for the 97-bedroom hotel on Charterhouse Square, EC1, from Richard Balfour-Lynn’s MWB Group.
As revealed by Estates Gazette (11 March 2011), MWB was seeking a sale to cut its debt.
MWB is also mulling over the sale of its hotels in Birmingham, Manchester and Newcastle.
Savills is advising MWB.
annabel.dixon@estatesgazette.com
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