The deal to transform the historic Café Royal in London's Regent Street to a 160-bedroom five-star hotel was rubberstamped today.
In am agreement first announced in April, Israel-based developer Alrov Group has acquired the 125-year leasehold of the site for £90m from the Crown Estate, which controlled the land and property
The hotel will be the centrepiece of the large scale Quadrant development by the Crown Estate which is designed to revitalise the southern end of Regent Street and create a 4,000 plus square metres.
The new hotel will also include a spa, gym and restaurant, expected to be presided over by one of London's leading chefs.
Georgi Akirov, managing director of Alrov's luxury hotel business said: "We look forward to delivering a world class hotel in this exciting location, in time for the 2012 London Olympics."
Property agent CBRE Hotels, CBRE's planning team and law firm SJ Berwin acted for The Crown Estate and Clay Street Property Investment Consultants acted on behalf of Alrov.
Hotel developer pays £130m for central London site >>
London's Metropole Buildings to become hotel >> ](http://www.caterersearch.com/Articles/2007/06/20/314451/londons-metropole-buildings-to-become-hotel.html)
By Daniel Thomas
E-mail your comments to Daniel Thomas here.