From: Vancouver, BC, Canada
Registered: May 2003
posted January 30, 2012 09:57 PM
Leicester Square Odeon sold by Irish debt agency to hotel group
Ireland’s National Asset Management Agency has sold the Leicester Square Odeon, one of London’s most famous cinemas, to Radisson Edwardian.
The Duke and Duchess at the Odeon Leicester Square for the premiere of War Horse. Photo: REX FEATURES
By Graham Ruddick, Property Correspondent
7:19PM GMT 30 Jan 2012
The hotel group is understood to have paid around €120m (£100m) for the site, which has planning permission to be redeveloped into a modern two-screen cinema, 245-bedroom hotel, restaurants and apartments.
The cinema holds one of the biggest screens in the UK and is regularly used for premieres.
Nama manages troubled loans taken on from Ireland’s banks. The Odeon site was previously held by a trio of Irish investors, Pat Chesser, Pat Whelan and Paul Hanby.
Allsop was appointed as receiver to the site last year and a sale process was launched. Jon Gershinson, a receiver for Allsop, said sites like the Odeon “rarely come to the market”.
Radission Edwardian said it would unveil its plans for the site in the “coming weeks”,
[ January 30, 2012, 10:10 PM: Message edited by: Ron Keillor ]
| IP: Logged