Hotel site at Bow Street Magistrates Court on market for £75m
A property steeped in legal history which is due to be transformed into a 100-bedroom luxury hotel has been put on the market for £75m.
The Grade-II-listed former Bow Street Magistrates Court in Covent Garden, London, was set to be developed by the property's owners, Austrian hoteliers, Rudolf and Christian Ploberger. However, the Plobergers have now decided to sell after receiving approaches from prospective purchasers and joint venture partners based in London, Hong Kong, Singapore, United Arab Emirates and New York.
A Michelin-starred chef is said to be interested in running the restaurant and bar at the six storey hotel, which will comprise a total floor space of 90,000sqft. Room rates are expected to range from under £200 per night for four converted prison cells up to more than £2,000 for a suite overlooking the Royal Opera House.
Planning permission for the venture was granted in December 2014. It will take two years to develop the property.
Property agent Gerard Nolan & Partners has been appointed to handle the sale. Gerard Nolan said: "Bow Street Street will be the best boutique hotel London has ever seen. The magnificent building occupies an island site combined with its notorious history opposite the Royal Opera House it doesn't come much better as a location."
Opened in 1881, the property hosted numerous high profile cases including those featuring Oscar Wilde, mass murderer Dr Crippen, Lord Archer and the notorious Kray twins before closing in 2006.
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