Queensgate completes £1bn Grange hotels buy

Queensgate Investments has completed the acquisition of Grange Hotels’ four prize London hotels for around £1bn. As previously revealed by EG, Queensgate entered exclusive talks in November to buy the Grange St Paul’s, EC4; Grange Tower Bridge, E1; Grange City, EC3; and Grange Holborn WC1. The portfolio comprises 1,345 bedrooms, spanning 930,000 sq ft. Following the transaction, Grange Hotels will own and operate 13 hotels, primarily located in central London. Queensgate has an agreement with Fattal Hotel Group to run the assets. Fattal will implement rolling refurbishments of all hotels and will pursue a repositioning strategy to grow. Fattal’s