Indian billionaire Yusuffali Kader has inked a £110 mln (€154 mln) deal with UK developer Galliard Homes to create a five-star super-luxury hotel at Great Scotland Yard in London’s Whitehall.
Indian billionaire Yusuffali Kader has inked a £110 mln (€154 mln) deal with UK developer Galliard Homes to create a five-star super-luxury hotel at Great Scotland Yard in London’s Whitehall.
Kader, one of India’s richest men and the owner of Abu Dhabi-based retail, hospitality and property conglomerate Lulu Group International, has agreed to invest in the joint creation of a 92,000 sq ft five-star hotel within an historic refurbished Edwardian building at 1- 5 Great Scotland Yard.
The hotel previously housed the original Scotland Yard Police Station and later the British Army recruitment centre for Westminster.
As part of the agreement, Steigenberger Hotel Group has been selected to create a brand known as The Great Scotland Yard. The hotel will provide a mix of luxury bedrooms, two bars, restaurants, library, lobby/lounge and private meeting, entertaining and dining rooms. An adjoining Grade 2 Listed Victorian townhouse will be incorporated into the hotel and used to create an entertaining suite.
The hotel is scheduled to open in Q1 2017 and construction on site is now 30% complete with the interior fit out scheduled to start in March 2016.
This is Galliard Homes' third major property deal in just a few months following a £225 mln investment from US fund Cain Hoy and last week's £50 mln investment into the business from Singapore’s Oxley Holdings.