Font Size

- Aa +

Sun 26 Jul 2015 02:12 PM

Font Size

- Aa +

LuLu Group snaps up London’s Great Scotland Yard for $170m

Listed property will be transformed into a luxury hotel operated by Steigenberger Hotel Group

LuLu Group snaps up London’s Great Scotland Yard for $170m

Middle Eastern retail conglomerate LuLu Group International has bought Great Scotland Yard, the original home of the Metropolitan Police in London, for £110 million ($170 million), it was announced on Sunday.

LuLu Group bought the property from British developer Galliard Homes for above the asking price, which was £100 million, it said.

Galliard Homes retains the 125-year head lease on the seven-storey Edwardian property at 1-5 Great Scotland Yard, which it purchased in December 2013.

It was the original Scotland Yard Police Station headquarters that was later used as a recruitment centre for the British Army – where Lord Kitchener famously told World War One recruits, “Your Country Needs You”.

Under the deal, LuLu Group will refurbish the building and transform it into a 92,000 sq ft 5-star hotel.

The hotel will be operated by Steigenberger Hotel Group, which will create a new brand called The Great Scotland Yard to form part of its Signature hotels portfolio.

The hotel will comprise an as yet unspecified number of luxury bedrooms, as well as two bars, restaurants, a library, lobby and private meeting, entertaining and dining rooms all with 24/7 concierge service.

An adjoining Grade II Listed Victorian townhouse will be incorporated into the hotel and converted into an entertainment suite.

The hotel will retain the property’s Edwardian Imperial facade but the interior design will be contemporary and stylish, Galliard Homes revealed on Sunday.

Construction is already 30 percent complete with interior fit-out scheduled to start in March 2016. The hotel is targeted to open in the first quarter of 2017.

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.

“Steigenberger Hotels & Resorts were chosen as the operator because of their reputation for perfect hospitality, quality and outstanding customer service. 

“The Great Scotland Yard Hotel will be a brand synonymous with exceptional service and refined luxury and quality."

For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.