Christie & Co

Cha Cha Moon, located in London’s Carnaby Street, was sold in early 2017 on behalf of clients Kout Food Group who were exiting the UK to focus back in the Middle East. After two rounds of bidding, Christie & Co secured a sales price for the leasehold interest in excess of £1m, well ahead of the offers-in-excess-of £700,000 asking price. The landlords, Shaftsbury Estates, “pre-empted” and matched the deal on the table to secure the site, such was its importance to them. They have now redeveloped it and incorporated it into Kingley Court.

Christie & Co successfully brokered the sale of two mid-markets hotels in the Baltic region during 2017. The locally branded Pro Kapital Grupp hotels in Tallinn, Estonia and Riga, Latvia represented a breakthrough into the Baltic market for Christie & Co. The PK Ilmarine in Tallinn and PK Riga were purchased by Sisne Invest OÜ in Estonia and SIA Sisne Invest, respectively. Real estate investor BBH Hotel Group has been appointed to operate both hotels under a long-term lease. BBH is an experienced hotel operator in Estonia with plans to expand into the Latvian market.

In May 2017, Christie & Co sold a collection of three MGallery by Sofitel hotels on behalf of Lonestar Funds / Hudson Advisors. The hotels were offered on a group basis with the benefit of the existing MGallery brand and Accor Management Agreement in place. Christie & Co were able to utilise their understanding of the local markets and investment community to achieve a sale price in excess of asking price in an off-market transaction.

August 2017 saw the sale of the award winning Academy Health Club, in Harrogate, North Yorkshire. The 65,000 sq ft racquets club and spa, set within a 6.15 acre site, was sold on behalf of Academy Leisure to David Lloyd Leisure (“DLL”) with the creation of a new 25 year lease to DLL. The UK’s largest operator of racquet clubs planned a subsequent £3.2m investment in the business enabling integration within the wider portfolio.