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London’s Bow Street Magistrates Court will be developed into a luxury hotel after it was purchased by a Qatar-based investment company.
Business Trading Company UK snapped up the property from Austrian hoteliers Rudolf and Christian Ploberger, who put the building on the market for around £75M.
The Grade II-listed court—where the trial of Oscar Wilde was held—ceased its legal operations in 2006 and was granted planning permission in 2013 to be converted into a 100-bedroom hotel.
The development costs will be around £125M. BTC UK managing director Medhi Ghalie pledged to work with English Heritage as well as Westminster City Council and the Metropolitan Police to maintain the building’s heritage. “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,” he said.
The new hotel is expected to open in 2019.
Michael Elliott acted for BTC UK, and Gerard Nolan & Partners co-invested and acted for Rudolf and Christian Ploberger.
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