Hyde Park Corner will be host to a new hotel owned by Hong Kong and Shanghai Hotels.
It’s no secret that London, and in particular the more affluent areas such as Belgravia, Knightsbridge, Chelsea, Pimlico, South Kensington, Mayfair and Westminster continue to attract huge interest from foreign investors.
Whether they’re looking to buy for themselves or as a business investment, the truth remains that foreign buyers are currently helping to fuel our market’s recovery.
So we were pleased to hear that the latest investment was the £132m buyout of a site on Hyde Park Corner by Hong Kong and Shanghai Hotels, operating under the Peninsula Hotel brand.
The company plans to open its first UK hotel within the mixed use scheme which will also feature a selection of high quality, luxury apartments. Established in Hong Kong in 1928, the company is buying out Derwent London’s 50% stake in a joint venture with Grosvenor Estates.
Image licensed by flickr creative commons Joelk75