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The Rosewood in London is up for sale

The Cheng family, which owns the five-star hotel in the British capital, has put the property up for sale for 450 million pounds (close to 600 million euros), or £1.5 million per room.

The Cheng family, from Hong Kong, has been owning this property since 2006. It has decided to put London's Rosewood Hotel on the market, hoping to get 450 million pounds sterling (close to 600 million euros) from sales proceeds, or close to three times the 135 million pounds sterling paid for its acquisition 10 years ago.

The 262-room, 44 suite five-star property joined the Rosewood Hotels & Resorts group in 2013, after undergoing a renovation program representing investments of some 85 million pounds sterling. The property is located in the High Holborn district and used to be the Pearl Assurance Company's headquarters.

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