Property mogul Vincent Tchenguiz wants to sell his portfolio of Hilton hotels for £600m, Savills and JLL have been appointed as advisers

 
Shruti Tripathi Chopra
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British property magnate Vincent Tchengu
In 2013, Vincent Tchenguiz filed a £200m damages case against the SFO (Source: Getty)

Vincent Tchenguiz is looking to sell a portfolio of 10 Hilton-branded hotels for £600m.

“We’ve had these hotels for nearly 15 years and I think now is a good opportunity to sell them,” the property mogul told City A.M.

Tchenguiz confirmed he is looking to sell the 603-bedroom Kensington Hilton individually for £300m.

However, he is not looking to market the rest of the hotels in his portfolio individually.

Tchenguiz has appointed Savills and JLL to find buyers for the hotels in Croydon, Cobham, Leeds, Nottingham, Tewkesbury and Watford among others areas.

He bought the portfolio of hotels in 2002 for over £300m and leased them back to Hilton up until 2032.

Read more: Vincent Tchenguiz is getting a new superyacht - but not in time for Mipim

The property baron and his brother Robert were arrested by the Serious Fraud Office (SFO) in March 2011 in relation to an investigation into suspected fraud at Kaupthing, the failed Icelandic bank. The brothers had their homes and business premises searched as part of the probe. The SFO dropped its investigation into the brothers in 2012.

In 2012, the duo filed a £200m damages case against the SFO for alleged injustices relating to his arrest and subsequent investigation. Then in 2014, Vincent and Robert agreed to settle their dispute with the SFO for £3m and £1.5m respectively.

Savills declined to comment while JLL and Vincent Tchenguiz have been approached for comment.

Read more: Vincent Tchenguiz interview: the Mayfair tycoon fighting to clear his name

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