London Wall hotel changes hands for £53.4m

Dalata has purchased the Apex London Wall Hotel from Apex Hotels for £53.4m, with the site set to be rebranded under the Irish hotel group’s Clayton brand.

The hotel at 7-9 Copthall Avenue will become Dalata’s fifth in London, and their 12th in the UK.

The transaction is expected to be completed in early July.

The acquisition brings the total number of Dalata bedrooms in the Capital to 877, once Maldron Hotel Finsbury Park opens later this month and Maldron Hotel Shoreditch opens in 2024.

The hotel is a four-star facility with 89 bedrooms and suites, a gym, a restaurant and bar, and a ground floor lobby. The site is located close to Moorgate, Bank, and Liverpool Street Stations and sits in the heart of the City of London.

Dalata said the property, which is expected to produce annual earnings (EBITDAR) of approximately £4.5m in 2024, will need minimal investment.

Shane Casserly, corporate development director at Dalata, said: “To have acquired such an attractive existing London hotel, in the current market, that will allow us to further expand the Clayton brand, is a fantastic achievement for the business. London remains a key development market for us and we remain focused on securing future opportunities for the portfolio.”