Lambeth Journeys
10 November 2009

New journey begins for London Eye hostel

A private London operator has bought the former Journey’s London Eye hostel near Waterloo for £895,000 in a sale handled by licensed leisure specialists AG&G on behalf of the administrators of Journey’s Limited.

The 120-bed hostel, which is actually in the Lambeth Walk, is well situated for sight-seeing and has traded well through the recession and the new owner intends to carry on the business.

“It’s a slick, modern operation but there’s room for improvement – for example, there aren’t very many bathrooms,” says AG&G’s Anthony Alder. “The bottom line is excellent and could get even better in the current climate, as people continue to trade down on their holidays.”

AG&G was appointed by MCR Corporate restructuring in association with BNP Paribas.

For more information, contact Anthony Alder on 020 7836 7826, e-mail or

AG&G are chartered surveyors specialising in the licensed leisure industry, with the skill and experience needed to value, assess or promote a property not simply as bricks and mortar but as a business. If it involves the price of a licensed premises, its profitability, rental value, investment prospects or value in a dispute, AG&G can help.

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