SINGAPORE (EDGEPROP) - City Developments Limited (CDL) has expanded its hospitality footprint in Central London with the acquisition of the 706-room Holiday Inn London - Kensington High Street for GBP280 million ($480.2 million), or GBP396,600 ($680,200) per room.

The rare freehold site, spanning 68,415 sq ft, in the prestigious Royal Borough of Kensington and Chelsea, is expected to generate a running yield of over 6%. The hotel boasts a prime location just steps from Kensington High Street and is surrounded by major cultural and retail landmarks, making it highly attractive for both corporate and leisure guests.

CDL's executive chairman, Kwek Leng Beng, described the deal as "a once-in-a-lifetime chance to secure an ultra-prime freehold site in Central London," highlighting the scarcity of such opportunities and its strategic adjacency to CDL's Copthorne Tara hotel. With this acquisition, CDL now owns two of the largest freehold sites in Kensington and Chelsea, strengthening its London portfolio to over 3,000 hotel rooms.

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According to CDL, Holiday Inn London - Kensington High Street achieved occupancy rates exceeding 97% for the nine months to September 2025, and total revenue topping GBP39 million for the preceding 12 months.