London’s iconic Admiralty Arch will be transformed into a luxury hotel.
The gateway is 100 years old and is steeped in much history which will have to be considered by the winning party. Originally commissioned by King Edward VII, its initial purpose was to serve as a memorial for the reign of Queen Victoria, his mother. Architect Sir Aston Webb worked on the project, with Buckingham Palace’s new facade and the Victoria and Albert Museum also on his list of accomplishments.
The Arch was latterly used as a base for senior Royal Navy officers, and was further transformed into exclusive apartments for the likes of John Prescott as well as other politicians. Now, plans for Admiralty Arch will see the iconic building turned into a luxury hotel.
Of the four shortlisted bidders, Middle Eastern investors from Abu Dhabi and Qatar are vying against each other, whilst further interest comes from billionaire brothers, David and Simon Reuben as well as Manish Chande and Martin Myers’ property firm Mountgrange.
Bids for London’s Admiralty Arch are expected to be between £65m and £75m, and the government hopes to sell a long lease by this summer.