London's Grosvenor House To Be Sold
The hotel could sell for between £600m and £700 million. The Telegraph reports that that property agent CBRE is being lined up to handle the sale and it could hit the market this month. The question of course is who's buying? Travel and tourism is still sluggish and RBS has tried to sell the hotel several times before, most notably to several Middle Eastern investors. Breaking Travel News says that London commercial property has been on the rise in recent months which means that for RBS is might be the right time to test the waters once again.