The iconic London monument Admiralty Arch, regarded as the gatehouse to Buckingham Palace, is to become home to a new Waldorf Astoria hotel by the year 2022.
Plans emerged yesterday for the new 96-bed Hilton hotel, which is set to take up part of the property, alongside a private members club and residences.
The site will also be home to a rooftop bar, three restaurants and a spa.
The building was commissioned by King Edward VII in memory of Queen Victoria and once served as office space for the Royal Navy. It is thought that the bedrooms in the new hotel will be named after different admirals with connections to the building.
Rumours surrounding the property’s conversion into a hotel have done the rounds since 2012, when the building was sold by the Government to Spanish investor Rafael Serrano.
However, in 2015 the building, with a 250-year lease, was bought by Prime Investors Capital and then plans really got underway to transform the building.
The redesign is expected to cost around £135m and is being led by Michael Blair and David Mlinaric, who have worked on The Ritz and Claridge’s.
Prime Capital also revealed that it had been in talks with 12 hotel brands over the operation and management of the site, but chose Waldorf Astoria for its strong reputation in protecting historical buildings.