Plans to develop the Admiralty Arch in central London into a luxury hotel have got the green light from the Westminster Council, according to Construction Enquirer. What it means: developer Prime Investors Capital can start the renovation job early next year turning former offices into a 100-room hotel and private members’ club.
Renovation designs have been drawn up by London-based Blair Associates Architecture.
The redevelopment is part of the government’s strategy to operate a more efficient government estate and raise over £1 billion for the taxpayer by selling buildings and land no longer needed.
The 99-year lease agreement signed between the Government and PIC will raise £60m from the sale of Admiralty Arch’s leasehold.
The arch was commissioned by King Edward VII as a tribute to his mother Queen Victoria and was completed in 1912.