- Wednesday, February 26, 2025
Describing the project a ‘once in a generation acquisition opportunity’, the hotels specialist said the agreement shows its ‘current appetite for growth despite headwinds in the market’, said React News.
By: Shubham Ghosh
THE Arora Group led by Sunil Arora, an Indian-origin hotelier, has finalised a deal to purchase a prized site that was previously occupied by Heythorp College in Kensington Square, React News said.
The 2.7-acre site near Kensington High Street has approval for a 320,000 sq ft senior living project with 142 apartments. South African seller Zenprop developed the scheme, valued at over £750m, the report added.
Describing the project a “once in a generation acquisition opportunity”, the hotels specialist said the agreement shows its “current appetite for growth despite headwinds in the market”.
According to the React News, the deal reportedly took approximately 10 days, spanning from the initial viewing to its final completion.
Arora is likely to request a change in the current usage permission for the site, as it holds potential for various schemes. The company intends to collaborate closely with the Royal Borough of Kensington & Chelsea in this process.
The Arora Group is a successful private group of companies focused on the UK with “specialist property, construction and hotel development and management divisions”, says Arora’s LinkedIn profile. The group also owns and manages a diverse portfolio of assets across the UK’s key business locations, including the airport regions. The company controls more than 7,000 hotel rooms and assets under management of over £2 billion.
It was founded in 1999 by Arora, who reached the UK from India as an early teen and started out by setting up a bed and breakfast near Heathrow to service British Airways staff.
“The acquisition of this extremely rare site in Kensington is in line with our ambition to acquire an asset with significant development potential in prime central London,” Sanjay Arora, chief operating officer at Arora, was quoted as saying by React News.
“We have waited several years for the right opportunity to purchase an asset of this calibre in London, and we are very excited to own such a prestigious building, which can be held for future generations in our family business. The site has the potential for a number of different schemes, and we look forward to working closely with the Royal Borough of Kensington & Chelsea.”
