Admiralty Arch - one of London's most prominent buildings - could be converted into a hotel.
Owned by the Government and currently used as administrative offices, the 147,300sq ft property has been put up for sale, with its lease being marketed by Savills. It could potentially accommodate a five-star hotel with around 150 bedrooms.
Originally built by Kind Edward VII as a memorial to his mother, Queen Victoria, the arch, which was designed by Sir Aston Webb, stands on the south west corner of Trafalgar Square and provide an entrance to the Mall leading to Buckingham Palace.
It is frequently used as a significant point during ceremonial processions, most recently during the Royal Wedding of Prince William.
The Government's key objective is to protect the heritage of the 100-year old building, enable the potential for public access, ensure awareness of any potential security implications and maximise value for the British taxpayer. While no guide price has been put on the property, a figure of £75m was quoted by the Sunday Times.
By Janet Harmer
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