Hines sells London office building for hotel conversion

Hines is selling Atlas House in London to Integrity International Group (IIG) for conversion into a hotel.

The sale price was £34.55 million, according to CoStar News.

Atlas House is a Grade II listed building situated in the City of London, between the Guildhall, St Paul’s Cathedral and the Bank of England.

IIG will integrate the asset into its Blue Orchid Hospitality brand. In another deal, IIG has also acquired the Crescent buildings, Tower Hill, which adjoin Blue Orchid’s Tower Suites hotel.

What they said

Tony Matharu, founder and chairman of IIG and executive chairman of Blue Orchid Hospitality, said: “The recent acquisition of Atlas House and the Crescent portfolio demonstrates our continued commitment to invest in and breathe new life into London property, particularly those buildings at the end of their previous lives, ensuring that London remains the best place to live, work, visit, and invest.

“The team at Integrity International Group has unrivalled expertise in acquiring, developing and operating first-class hospitality facilities. We look forward to continuing to make a positive difference to central London and its world-class offering to international and domestic visitors, workers, and residential communities alike.”