A weekly round up of the latest property news from the central London boroughs

Camden

PW reports that Whitbread has put its flagship ‘hub by Premier Inn’ in King’s Cross up for sale for £80m. The 389-room hotel is under construction and will be sold as a forward-funding opportunity. A sale prove of £60m reflects a yield of 4.18%.

City of Westminster

EG reports that the UK’s first Hard Rock Hotel is to open in Marble Arch. Operator glh Hotels is to rebrand its 1,000-bedroom Cumberland Hotel at Great Cumberland Place off Oxford Street. Work on the overhaul will begin in late 2016 and the hotel is due to open in summer 2018. The building is owned by the Portman Estate.

EG reports that KPMG’s club for partners and clients in Mayfair at 20 Grosvenor Street has been bought by a client of Luxembourg-based fund Shaftesbury Asset Management for £96m – a 3.8% yield.

Hammersmith & Fulham

PW reports that Workspace Group is under offer to buy the 160,000 sq ft Hammersmith Embankment scheme from Goodman and Legal & General’s joint venture Arlington Business Parks Partnership (ABPP).

Southwark

EG reports that the State of North Carolina has bought the Harlequin Building, 65 Southwark Street, for £48.2m – a net initial yield of 4.25%.

Tower Hamlets

EG reports that Galliard Homes’ Capital Towers residential development in Bow could be stalled by high construction costs.

PW reports that Taylor Wimpey has acquired a development site in Bow, with the potential for a 150-unit residential scheme. The housebuilder has bought the 1.7 acre site in Wick Lane, the former art studio home of British artist Gavin Turk, from Locksbridge for around £1.3m. Plans for the site include commercial and retail space.