BTC UK to develop £125m West End hotel
Business Trading Company has bought Bow Street Magistrates Court in Covent Garden for a £125m boutique hotel conversion.
The UK arm of the Qatar-based investor has bought the freehold of the 90,000 sq ft Grade II listed building in from Austrian hoteliers Rudolf and Christian Ploberger.
Business Trading Company has bought Bow Street Magistrates Court in Covent Garden for a £125m boutique hotel conversion.
The UK arm of the Qatar-based investor has bought the freehold of the 90,000 sq ft Grade II listed building in from Austrian hoteliers Rudolf and Christian Ploberger.
The 1881 building, which sits on an island site opposite the Royal Opera House, was the historical home of Bow Street Runners, London’s first professional police force.
Mehdi Ghalaie, managing director at BTC UK, said: “Bow Street Magistrates Court is an iconic part of London’s heritage and we are delighted to be bringing it back into public use. After many years under different owners, our focus is now on delivering a world-class boutique hotel that befits the history of this landmark building.
“We will be engaging with English Heritage, Westminster City Council and the Metropolitan Police in our planning process to maintain the building’s illustrious legal heritage and history and to ensure that the traditions and spirit of Bow Street are preserved.
“This acquisition further enhances our expanding hospitality credentials in the UK and reflects our desire to develop businesses that provide unparalleled customer experience.”
BTC UK was founded in 2015, and entered the UK market through its acquisition of Soho Coffee Company, followed by Apostrophe cafés and Euphorium Bakery in 2016.
Michael Elliott acted for BTC UK and Gerard Nolan & Partners co-invested and acted for Rudolf and Christian Ploberger.
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