The King’s Cross Group acquired the leasehold interest in London's 88-room Kaya Great Northern Hotel for £20 million ($27 million).
The King's Cross Group owns the 67-acre site in central London known as the King's Cross estate, and is responsible for management, development and stewardship of the site, which includes major global businesses, residential developments, public spaces and more.
The hotel, first opened in 1854, will continue to be operated under a “long occupational lease with Kaya Hotels U.K.,” a subsidiary of the Turkish parent firm Kaya Turistik Tesisleri Titreyengol Otelcilik A.S.
An accompanying news release added the “acquisition strengthens [The King’s Cross Group’s] long-term stewardship of the King’s Cross area by streamlining the ownership structure of one of the neighborhood's most prominent hospitality assets.”
The release added the deal “secures a long-term, inflation-linked income stream.”
According to CoStar sales data, Kaya Turistik acquired the hotel in 2024 from Intriva Capital Advisors for an undisclosed amount when affiliated with Marriott International’s soft brand Tribute Portfolio. Marriott ceased operating the property on Sept. 3, 2025, according to CoStar.
Years earlier, PGIM acquired the hotel in 2011 from United Kingdom-based RAM Group for £12 million when the property was being redeveloped for a reopening in 2013.
One of London’s original Grande Dame railway hotels, the Great Northern stands next to King’s Cross Station and a few additional feet from St Pancras International, where cross-continental Eurostar trains depart.
The King’s Cross Group is undertaking a renovation of the 67-acre King’s Cross estate, which it says is “one of the world’s leading examples of mixed-use urban regeneration.”
Leo Shapland, King’s Cross Group’s CEO, said in the news release that his firm took over ownership of the estate in 2025. He added he viewed the Great Northern Hotel as an integral and historical part of the district.
“Bringing the asset back under aligned ownership with the wider estate strengthens our ability to continually evolve the neighborhood, while securing diversified long-term income,” he said. “During the last year, we have built a business that benefits from capital to deploy and the expertise of a world-class team focused on active stewardship.”
The King’s Cross Group is a wholly owned subsidiary of Australia’s largest pension fund, AustralianSuper, and Federated Hermes.