Date: August 2018
Location: Poland Street, Soho, London, UK
No. of Keys: 150
Seller: Shiva Hotels, the development and investment company received planning consent for the project. Shiva Hotels, which originally bought the St. Giles House site in August 2015 for £55m from Amazon Property, will operate the hotel under a long lease.
The property includes 47,48, and 49-50 Poland Street and land behind 54-55 Great Marlborough Street. The existing retail and office buildings total 53,000 square feet.
Buyer: The Reuben Brothers
This recent London hotel project follows the Reuben Brothers’ plans to convert a former gentleman’s club in London Piccadilly and the surrounding six buildings of the Piccadilly Estate into a 102-room hotel and four residential units.
The developers scored planning approval for the development in December 2017 to convert the site. Architectural firm PDP London announced plans for a spa, food and beverage facilities and banqueting and meeting rooms in the hotel.
The brothers acquired the Grade I-listed property for £130 million in 2011. They originally received planning approval in 2014 to convert the buildings into a 60,000 square-foot £250-million private home, but switched up the plans in early 2017.
The 18th-century mansion, which is locally known as the In and Out Club, recently operated as temporary dining spaces. The mansion operated as the Navel and Military Club from 1865 until 1999. The building was originally constructed as a residence.
The Reuben Brothers are also on track to open a 154-room Hilton Garden Inn at Doncaster Racecourse in late 2018. The hotels will join the company’s portfolio in England, which includes the Lingfield Park Marriott Hotel & Country Club in Lingfield.
Shiva Hotels’ portfolio in England includes the Kingsway Hall Hotel in Covent Garden, London, the Hilton at London Heathrow Terminal 5 and the Hilton DoubleTree at London ExCel. The hotel operator owns and manages these properties.
Shiva Hotels’ pipeline includes the former NCP-operated parking lot on Marylebone Lane in London’s West End near Oxford Street. The group received planning consent to convert the parking lot into a hotel. Shiva Hotels acquired the property from LaSalle Investment Management in February 2016.
THPT Comment: Shiva, an independent family-owned hotel group, headed up by Rishi Sachdev, with nine hotels in London and one in York, including five under development! have done seriously well over recent years.
First Seen: Hotel Management