Upton sells Greenwich hotel for £22m

Richard Upton, deputy chief executive of U+I, has exchanged contracts to sell the Devonport House Hotel in Greenwich, SE10, to the University of Greenwich for £22m. Having put the hotel up for sale in May for £18m through Knight Frank and Nick Sweeney, the process saw strong bidding. It is expected that the university will predominantly retain the hotel for its income, but it may turn some elements into academic space. Upton previously owned Devonport alongside two sister hotels, Eynsham Hall in Witney, Oxfordshire, and the Bell in Ticehurst, Sussex, all of which were not included in the sale of Upton’s then business Cathedral Group to U+I in 2014. Eynsham Hall was put up for sale in January for £8.25m and was sold to Ennismore. The 100-bedroom Greenwich hotel was designed by architect Sir Edwin Cooper and dates back to the late 18th century. It was restored in 2001. It sits within a UNESCO world heritage site in Greenwich, and has a sculpture collection including works by Francois Hameury. The sale also includes a 17th century mausoleum, which houses the remains of Battle of Trafalgar admiral Sir Thomas Hardy. To send feedback, e-mail david.hatcher@egi.co.uk or tweet @hatcherdavid or @estatesgazette