Russell Hotel 312-312A Vauxhall Bridge Rd 10 Room Hotel London SW1V 1AA £2,800,000 (£280,000/Room)

A vacant unmodernised hotel located opposite the Apollo Theatre in Victoria and around the corner from the station. The property is offered at £2,850,000 (subject to contract).
The property has been held in the vendor’s family ownership for approximately 40–50 years and comprises a prominent mixed-use building, with the ground floor occupied by a restaurant, historically noted as the first-ever Costa. The sale relates to the upper parts only, arranged as a former hotel across the first, second, third and fourth floors, which is now vacant. The vendor intends to retain the ground floor restaurant on a 999-year lease, generating a current income of approximately £3,300 per calendar month from a Korean restaurant operator. It is proposed that the sale structure includes the freehold interest to the upper parts. There may be potential to add additional floors, subject to the necessary consents, although prospective purchasers should note possible rights of light considerations with neighbouring properties.
Existing plans are available, together with an indicative scheme illustrating the addition of en-suite bathrooms to a number of rooms.