US hotel and leisure development group Thomas Enterprises has bought London's Ten Trinity Square and plans to turn the landmark venue into a luxury hotel.
The building, which has been used as the headquarters of global insurance broker Willis Group since the mid 1970s, is believed to have been sold to Thomas Enterprises for about £110m.
The project marks the group's first venture in the UK and it intends to transform the site to include health and spa facilities.
Stephen Richardson, director of hotels at property agent Atisreal, which acted on behalf of Willis Group, said: "This transaction is very significant in relation to the provision of London hotels and, on completion, will undoubtedly be among the leading hotels in the capital."
Ten Trinity Square was designed by architect Sir Thomas Edwin Cooper and opened in 1922 as headquarters for the Port of London Authority. In 1946, it hosted the reception for the inaugural meeting of the General Assembly of the United Nations.
The building is now a Grade II-listed structure and has an internal area of 255,000 sq ft.