Luxury hotel brand the Oberoi Group has received planning consent for its first European site in Mayfair, London, in partnership with Cain International.
Oberoi has signed an agreement with the privately held real estate investment firm in a deal which it has said will create "exceptional living at the heart of one of the most attractive and sought-after locations in prime central London", comprising 23 serviced residences, retail space and a small restaurant.
The 48,000 sq ft Grade II Listed property at 17-21 South Audley Street was built in 1845 and acquired by Cain International in 2016. The residences are due for completion in 2022.
P.R.S. Oberoi, executive chairman of The Oberoi Group, said: "We are excited to bring The Oberoi brand to London in partnership with Cain International. The iconic building in the heart of Mayfair is a perfect complement to an Oberoi branded property.
"We look forward to bringing Oberoi's distinct culture of personalised service and commitment to excellence in serving our guests on their next visit to London."
The Oberoi Group was established in 1934 and owns and operates 33 five-star hotels and luxury resorts across India, Indonesia, Morocco, Mauritius, Egypt, Saudi Arabia and the UAE.
The partnership is the latest addition to Cain International's growing portfolio of luxury hospitality investments and loans across the UK, Europe and the US, including Six Senses, Waldorf Astoria and Soho House.
Jonathan Goldstein, chief executive of Cain International said they were "excited to be forging this new partnership" with "one of the very best in the hospitality industry".