Close Ventures, the leading Venture Capital Trust manager, announces
that Sky Hotel Heathrow Limited has completed the acquisition of the 19
bedroom Stanwell Hall hotel, a mile from the new Terminal 5 at Heathrow
Airport.
Close Ventures intends to invest up to £6.5 million in Sky Hotel Heathrow Limited which is 50:50 owned by various Close Venture Capital
Trusts and The Hotel Collection Limited. The investment will be used to create a boutique airport hotel of up to 58 rooms by combining
the existing building’s character and charm with contemporary innovation. The property will continue trading as The Stanwell Hotel
Heathrow until planning permission is granted for expansion and refurbishment. It is planned to become the Sky Hotel Heathrow in 2009.
Henry Stanford, Director, Close Ventures said: "Asset backed investments are one of the cornerstones of our investment strategy and we
have a good track record of investing in hotels. The quality of the site and its proximity to the new Terminal 5 make it an excellent
investment prospect and we have been impressed with the award winning team at Sky Hotel."
Penny Brown, Director of Sky Hotel Heathrow Limited said: "The timing and location of this project is very exciting. The passenger’s
experience has been at the forefront of the thinking behind the design and operation of Terminal 5 and it is our intention to mirror
this approach by creating an innovative and contemporary environment. Close Ventures have an exceptional grasp of the Hotel industry
and make an excellent partner for this project."
Close Ventures is one of largest and most successful providers of venture capital in the UK. Formed in 1996 as part of Close
Brothers Group plc, Close Ventures currently manages a portfolio of seven VCTs, with funds under management of £250 million. In
2005 and 2006 it was named VCT Provider of the Year at the Professional Adviser Awards and VCT Fund Manager of the Year at the
Growth Company Awards.
The core investment strategy of all the seven funds is to offer investors lower investment risk, whilst providing higher dividend
yield and sustained capital growth. Close Venture’s funding capability ranges from £1 million to £10 million. Investments range
across the risk spectrum from asset-backed to technology businesses. Close Ventures is authorised and regulated by the Financial
Services Authority.
The Hotel Collection Limited has been established by Penny Brown and Sue Bertram, two of the directors of the award winning B+B Belgravia. B+B Belgravia opened in 2004 and, with its emphasis on design, service, quality and comfort, has been winner of its class at the Eurostar Visit London Awards for each of the last two years.
Roddi Vaughan-Thomas
Peregrine Communications
Tel: 020 7223 1552
Mob: 07879 402 586
Henry Stanford, Director
Close Ventures Limited
Tel: 020 7422 7830
Sue Bertram, Sales & Marketing Director
Sky Hotel Heathrow Limited
Tel: 20 7881 0555
Mob: 07764 773614
Company Reg. Name: Sky Hotel Heathrow Ltd. Company Reg. No: 6244098 I Website design: Reactive Graphics Uk