Hong Kong Investor Magnificent Hotels Wins Bid for New Hotel in the City of London

Main Photo: The old police station, dwarfed by the skyscrapers in London’s City

Date: November  2019

Location: Wood Street, London EC2, England, UK

Name: TBA

No. of Keys: TBA

Seller: The City of London Corporation is to sell a new 150-year-long leasehold with a “peppercorn rent” for the City of London police station at 37 Wood Street, EC2.

Cushman & Wakefield was appointed to find the buyer for the leasehold.

Purpose-built for the City’s police force in the 1960s, the Grade II* listed property comprises a four-storey building around a large courtyard, with a 12-storey tower to the north-east corner of the site, providing 56,577 sq ft of internal space.

It is a 0.44-acre island site, located near the Guildhall. The property, which has yet to be vacated, has already been granted permission for enlargement.

Buyer: Magnificent Hotels of Hong Kong, owner of nine hotels, mostly in Hong Kong, with one already in London, The Royal Scot, now a Travelodge and two in China. The company is headed up by Mr William Cheng Kai Man, Chairman.

Not much more known at this stage.

Price: £40m

Price per Key: TBA

THPT Comment: Just as the Great Scotland Yard building turns into a Hyatt hotel, another of London’s police stations is due to be converted to a five-star hotel….Great other than please keep some police stations open!

First Seen: 

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