Investor and developer MCR Property Group has splashed £123m on a portfolio of four central London hospitality assets as the foundation for a new lifestyle hotel brand.
MCR Property Group: Ashburn Hotel, Kensington and Chelsea
The portfolio comprises the Ashburn Hotel and serviced apartment buildings Ashburn Court, Chesham Court and Claverley Court, all in Kensington and Chelsea.
MCR plans to launch a £500m hospitality brand and is in talks with hotels and serviced apartment operators across the UK to bring them under its umbrella.
The group has committed to a full refurbishment programme for the four acquired Kensington and Chelsea assets as part of an initial £150m investment in the platform.
Edmund Kissner, who is leading MCR’s new brand, said: “This is a full refurbishment programme, not an incremental upgrade. The intention is to bring all assets up to a consistent, premium standard while creating a clear, design-led identity across the portfolio.
He added: “This is the beginning of a much broader rollout. We are finalising the brand platform, ensuring it has the strength and clarity to scale up beyond these initial assets. Our ambition is not to operate a collection of four hotels, but to build a cohesive hospitality proposition with real identity and operational depth.”
The deal marks MCR’s entry into operational real estate, with the group currently operating across sectors including commercial, residential, student, industrial and retail.
Earlier this year, the group launched purpose-built student accommodation operating platform Flow Student, bringing together a portfolio with a combined gross development value of £360m.
MCR Property Group founder Aneel Mussarat said: “This £150m deployment is a deliberate move into operational real estate, in a market where we see clear inefficiencies and significant scope for value creation.
“Prime central London hospitality continues to offer strong underlying demand, but performance is increasingly driven by execution. Our focus is on disciplined asset management, brand control and operational integration to drive superior income returns.”
He added: “We are building a platform, not acquiring assets in isolation. That means putting the infrastructure, systems and brand architecture in place from day one, so we can scale up efficiently as we deploy further capital.”
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