Marldon appoints Savills and Colliers to sell two serviced apartment schemes
Marldon has put the freehold of two serviced apartment schemes in London on the market.
2 Suffolk Lane in the City, has a guide price of £17m for the 16,822 sq ft building, which comprises 27 fully furnished serviced apartments in addition to a separate vacant fitted wine bar.
66 Turnmill Street in Farringdon, has a guide price of £11m. The seven-storey, 13,614 sq ft building, which comprises 14 studio serviced apartments, three office units and one retail unit, is situated next to Farringdon station.
Alex Sturgess, director, hotel capital markets at Savills, which is advising Marldon on the sale of the assets, said: “We are pleased to have been appointed to sell these properties on behalf of Marldon alongside Colliers. Both of these properties have profound investment fundamentals given their specification and location. No 2 Suffolk Lane and 66 Turnmill Street are high yielding assets and we don’t expect them to be around for long.”
Colin Hall, director at Colliers, added: “City C1 serviced apartment buildings rarely enter the market and these are two particularly good examples with each having the opportunity of significant additional income. They would nicely augment an existing portfolio or together would form the nucleus for a new chain looking to enter this reliably solid market.”