Grand Plaza Hotel Kensington for sale for £110m

Malaysia’s Federal Land Development Agency, Felda, is selling the Grand Plaza Hotel in Kensington, W2, for £110m. The 105,336 sq ft property comprises 13 interconnected Victorian buildings on Prince’s Square, Bayswater, and includes 198 serviced apartments. It also includes a courtyard, restaurant, office and meeting space. It is being offered freehold and is available with vacant possession. Felda, which operates some of the world’s largest palm oil plantations, bought the hotel three years ago for £98m through its investment arm Felda Investment Corporation. In January this year the state-owned group was mandated to sell shares in its investment