No. 1 Oxford Street Hotel Not Seized, Remains Under Our Control – Management
Management of the No. 1 Oxford Street Hotel has dismissed reports suggesting that the luxury facility in Osu has been seized by a court-appointed receiver, insisting that the property remains under the control and possession of its management and directors.
In a statement issued on Thursday, July 23, 2026, Kensington Residential Partners 1 Limited, the company responsible for developing and managing the hotel, said recent media reports had created the false impression that a receiver appointed by Cola Holdings Limited had already taken possession of the facility.
Management explained that although the Accra High Court granted an order on July 21 allowing police assistance to a receiver, the order did not automatically transfer immediate possession of the hotel. According to the company, the order is subject to a seven-day period before it can take effect.
The company said it has instructed its lawyers to appeal the decision and file the necessary applications to prevent Cola Holdings Limited and the appointed receiver from taking possession of the property while the appeal is being determined.
The dispute involves Kensington Residential Partners 1 Limited and Cola Holdings Limited and is linked to financing arrangements for the development of the hotel. Management said the project was partly financed with shareholder funds and a loan facility from the International Finance Corporation.
According to the statement, the hotel experienced financial difficulties after it opened in December 2019, largely due to the impact of the COVID-19 pandemic on the hospitality industry.
Management further stated that while discussions were underway to restructure the IFC facility, Azad Cola, acting through Cola Holdings Limited, claimed to have personally settled the loan and subsequently demanded reimbursement. Kensington Residential Partners said it had not been provided with satisfactory evidence confirming that the alleged repayment had been made.
The company also accused Cola Holdings Limited of attempting to recover the same alleged debt from both Kensington Residential Partners and businessman Nana Kwame Bediako, popularly known as Cheddar, describing the action as an attempt at unjust enrichment.
However, an earlier High Court decision granted police assistance to the receiver after the court found that Cola Holdings had registered a security interest over the property and obtained the necessary approval to realise that security. The ruling concerned the request for police assistance and did not determine the merits of other pending appeals or claims between the parties.
Management has urged the public to avoid drawing conclusions while the legal processes are ongoing.
“No. 1 Oxford Street Hotel remains open for business, and the facility continues to operate under the control of its management and directors,” the company stated.
The dispute is expected to continue before the courts as both sides pursue their respective legal claims over the property.
