The Great Northern hotel at King's Cross is set to be redeveloped as a luxury boutique hotel in time for the London 2012 Olympics.
The Grade II-listed building will be restored as part of the areas regeneration project to include 94 luxury bedrooms, a bar and a restaurant. Work is set to begin early next year, with completion due in late 2011.
CBRE Hotels announced the project will be managed by a consortium led by Robson Asset Management (RAM), while Oxford Hotels will act as development manager, overseeing the refurbishment and fit-out of the iconic property.
Jeremy Robson, managing partner of RAM, said: "This project is arguably the most attractive hotel development in London for many years."
Simon Wood, director of Oxford Hotels, added: "We love this hotel project, which will be the gateway into King's Cross Central, a vibrant new London Quarter, and to Europe via St Pancras International. We promise to create a luxury limited-service hotel that is cool and contemporary yet evokes a timeless elegance. It will be an intimate oasis in London's busiest transport hub, with a breathtaking 125 million annual passenger footfall."
The hotel, which first opened in 1854, sits at the southern end of the 67-acre regeneration site and is ideally located for both King's Cross station and St Pancras International, with connections to mainland Europe and the rest of the UK.
Chris Rouse, director of CBRE Hotels, said: "It's great to have achieved a deal in the most difficult development environment that most of us can remember. All parties were committed to the vision and in securing a mutually acceptable alignment of all the interests."
By Emily Manson
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