The trend of Indian property developers acquiring iconic London buildings has gathered pace with NRI businessman Yusuffali Kader striking a deal to take over the original home of Scotland Yard in central London, now being developed into a 92,000 sq ft five-star hotel.

Kader, who owns hypermarkets, malls and other businesses in the Gulf and India, is acquiring the building through his UAE property business, the Lulu Group, for £110 million. The group will take over the property once the project — described by current owner Galliard Homes as one of Whitehall’s “largest construction projects” — is completed. The hotel, which will have 233 rooms with prices for a suite going up to £10,000/night, is set to open in 2017 and will be run by German hotel operator Steigenberger.

Galliard, which acquired a 125-year lease to the property two years ago, said it was a third of the way through the massive construction project. “This will be one of London’s most luxurious five-star hotels,” said Don O’Sullivan, managing director of Galliard Homes.

Lulu Group emerged the frontrunner for the hotel in April, after Galliard’s talks with the Malmaison Hotel Group broke down.

While the Sahara Group put the Grosvenor House Hotel for sale earlier this year, Indian developers have snapped up a number of properties in central London. In 2013, the Lodha Group acquired the building that housed the Canadian High Commission, while Indiabulls picked properties in central London.

The new hotel will be at 1-5 Great Scotland Yard, the location of the original police station. While the building is best known for being the headquarters of Scotland Yard between 1829 and 1890 — including at the time the Jack the Ripper murders were investigated — it has also been home to a recruitment centre for the British Army and a government library.

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