£75 million asking price for Bow Street Magistrates Court

George Sell By George Sell
07 August 2015 | Updated 07 August 2015

UK: Bow Street Magistrates Court in Covent Garden, London, is on the market for £75 million.

UK: Bow Street Magistrates Court in Covent Garden, London, is on the market for £75 million.

The Grade-II listed building, which has planning permission to be converted in to a 100-room boutique hotel, was set to be developed by the property's owners, Austrian hoteliers Rudolf and Christian Ploberger.

But the Plobergers have decided to sell after receiving approaches from prospective purchasers and joint-venture partners based in London, Hong Kong, Singapore, United Arab Emirates and New York.

A Michelin-starred chef is said to be interested in running the restaurant and bar at the six storey hotel, which will comprise a total floor space of 90,000 square feet. Room rates are expected to range from under £200 per night for four converted prison cells to more than £2,000 for a suite overlooking the Royal Opera House.

Property agent Gerard Nolan & Partners has been appointed to handle the sale. Gerard Nolan said: "Bow Street will be the best boutique hotel London has ever seen. The magnificent building occupies an island site combined with its notorious history opposite the Royal Opera House it doesn't come much better as a location."

Built in 1789, the property hosted numerous high profile cases including those featuring Oscar Wilde, mass murderer Dr Crippen, Lord Archer and the notorious Kray twins before closing in 2006.

www.gerardnolan.co.uk

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