W London sold to Qatari-based investor

Northern Ireland-based development group McAleer and Rushe has revealed that it has sold the 192-bedroom W London-Leicester Square hotel in a deal worth £200m.

The flagship property, which is operated by Starwood and located on the corner of Leicester Square and Wardour Street, is now under the ownership of a Qatari-based investor.

Designed by Jestico + Whiles, the hotel opened in April and comprises the fifth floor Away Spa, which includes five treatment rooms, three private suites and a beauty boutique.

McAleer and Rushe managing director Eamonn Laverty said: "We built a hotel that is instilled with the highest levels of design and exclusivity that one would expect of such a glamorous brand as W and on such a prominent site.

"The funds raised will be reinvested in the business and will assist us in the pursuit of other development opportunities."

Jones Lang LaSalle (JLL) and Steerforth Partners advised on the sale. Jon Hubbard of JLL added: "This sale reinforces the international appeal of London for real estate investors, recognising the long term strength of the London hotel market."