London investor Cadogan has bought The Draycott Hotel for an undisclosed sum.
Built in 1890, the Victorian property comprises three red-brick town houses on Cadogan Gardens in the heart of Chelsea. It will undergo renovation work before reopening as The Chelsea Townhouse, operated for Cadogan by Iconic Luxury Hotels.
Formerly owned by Draycott Holdings Ltd, and managed by Mantis Collection, the property currently has 35 bedrooms and suites, many overlooking a private garden square.
The existing owners and management team of the Draycott Hotel will continue to operate the property with their existing team until 5th January 2023, when its operation and staff will be transferred to Iconic Luxury Hotels.
JLL and DMH Stallard acted as advisors to the original owners of The Draycott Hotel, whilst Cripps advised Cadogan.
What they said
Hugh Seaborn, CEO of Cadogan said: “We are delighted to bring this fine luxury hotel under our stewardship, as part of our strategy to ensure Chelsea has some of the world’s best places to stay that truly become part of the neighborhood. It joins our existing hotel portfolio of The Cadogan Hotel, operated by Belmond, The Beaverbrook Town House and of course 11 Cadogan Gardens and Apartments, also operated by Iconic Luxury Hotels. We are extremely proud of these incredible properties which are rich in heritage and individual charm, appealing to both discerning visitors and locals alike.”
Andrew Stembridge, Iconic Luxury Hotel’s executive director, said: “Iconic Luxury Hotels is delighted to be expanding its collection of Iconic properties. I am pleased to confirm that The Draycott Hotel will form an integral part of our trio of Chelsea town house properties. Plans are currently being finalized to refurbish the property and transform it into The Chelsea Townhouse.