Gulf News together with other UAE’s news agencies informed on Sunday 26 July 2015 that :
One of the wealthiest Indians in the Middle East, retail billionaire M A Yusuff Ali of the $5.8-billion Abu Dhabi-headquartered LuLu Group, has entered into a $170-million agreement with London-based property developer Galliard Homes to create a luxury five-star hotel at 1-5 Great Scotland Yard in London’s Whitehall. – See more at: http://www.domain-b.com/industry/Real_estate/20150727_building.html#sthash.PLTzp5rh.dpuf
In effect, Lulu Group International, the retail chain of Abu Dhabi, Dubai, Doha, Manama, etc. has announced its finalisation of a £110 million deal to acquire the Great Scotland Yard, home of London’s Metropolitan Police Service, with plans to transform the building into a hotel.
In a statement issued on Sunday, the group said it is set to develop a 92,000-square-foot, five-star hotel within the building after signing an agreement with Galliard Homes, a London-based property company. An adjoining Grade 2 listed Victorian townhouse will be incorporated as well into the property.
The retail conglomerate purchased the property from British developer Galliard Homes for $15m more than the original asking price of $155 million.
The iconic building is associated with investigations into notoriously famous crimes such as the unsolved serial-killer Jack the Ripper’s case in 1888 and the Plaistow Marshes in 1864. The building also was prominently covered by Charles Dickens and Arthur Conan Doyle’s world renowned writings.
Galliard Homes retains the 125-year lease on the 1 through 5 Great Scotland Yard Edwardian property that it purchased in December 2013.
Don 0’Sullivan, managing director of Galliard Homes, said: “Galliard Homes is delighted to have reached an agreement with Lulu Group International to create a bespoke five-star hotel in the heart of London’s Whitehall.”
Once completed, the hotel will be seven floors high with two basement levels, retaining its Edwardian Imperial red brick and stone façade but with an interior design that is contemporary and stylish, Arabian Business reported
Lulu Group will refurbish the building and transform it into a 92,000 sq ft five-star hotel, which will be operated by Steigenberger Hotel Group.
Construction work is currently 30% complete, with interior fit-out scheduled to start in March 2016 for a scheduled opening in early 2017.
The hotel will comprise of course luxury bedrooms, bars, restaurants, a library. A lobby and private meetings, dining rooms and an adjoining Grade II Listed Victorian townhouse will be incorporated and converted to complete the hospitality service.
It is anticipated that the hotel will retain the Great Scotland Yard name, and capitalise on it by incorporating the building’s history into the guest experience. However, he expected the location to be the hotel’s unique selling point.
The hotel was the location of the original Scotland Yard Police Station, and later the British Army recruitment centre for Westminster and it is Lulu’s second investment in London, after a 10 per cent stake in East India Company, a trading company, and a 40 per cent stake in its food subsidiary for a total of around $85 million.