L&G acquires YOTEL London Clerkenwell for £70m

Sandra Mundy and Tom Russell, the Joint Administrators of 100 Clerkenwell Road Limited are delighted to have completed the sale of YOTEL Clerkenwell Limited to Legal & General Investment Management (LGIM) for £70m.

Paul Davies, Partner at James Cowper Kreston commented “We are pleased to have concluded a timely sale of the hotel following our appointment as Administrators in December.  There remains significant interest in the hotel sector for well-located and innovative hospitality assets such as YOTEL London Clerkenwell”.

With thanks to Knight Frank and Gowling WLG for their assistance in the transaction.  This is a particularly challenging time for a sector where we are seeing a number of distressed opportunities and should you wish to know more about our work in this sector, please contact Paul Davies.

Read the full press release here.