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.