Luxury hotel brand Oberoi Hotels & Resorts is set to open its first hotel in London’s Mayfair district, British urban property major Grosvenor and EIH London Investments announced on Thursday. The hotel will be part of Grosvenor’s landmark South Molton development and will occupy a prime position at 40-46 Brook Street.
Work began onsite in November 2023, with all phases scheduled for completion by the end of 2027.
Arjun Oberoi, executive chairman, The Oberoi Group said, “Our partnership with Grosvenor marks an important milestone in our international growth. London has always been a key market for our guests. We are excited to bring our distinctive hospitality experience to the heart of London. The Oberoi, Mayfair, will not only be a celebration of our brand at a prime location, but also an opportunity to showcase our service excellence.”
Grosvenor secured planning permission for the restoration of the 33,000-sq-ft listed building in 2022, as part of its wider South Molton development. The project, currently the West End’s largest mixed-use development, will include the hotel, new office space, housing, cafes, shops, restaurants, community and leisure spaces.
The project also includes a 267,000 sq-ft joint venture between Grosvenor and Mitsui Fudosan UK, which will deliver two best-in-class office buildings on Brook Street and Davies Street, offering corporate headquarter spaces in one of the West End’s most sought-after locations.
Rachel Dickie, executive director of investment and development, Grosvenor, said, “Confirming a brand as prestigious as Oberoi Hotels & Resorts will have its first UK presence at South Molton, in the heart of Mayfair, is what we mean when we say we are creating a destination of international significance. We are thrilled to have such a fantastic anchor for the project at this early stage of development.”
South Molton will serve as a new gateway into Mayfair, drawing an estimated £6.5 million of spend, annually. Around 1,000 permanent jobs will be created upon the project’s completion, alongside 450 jobs and apprenticeships during the construction phase.
Vikram Oberoi, MD and CEO, The Oberoi Group said, “We are delighted to bring the legendary Oberoi hospitality to London, especially in such an iconic location as Mayfair. This project marks a pivotal moment for our brand’s global journey. The Oberoi, Mayfair, will embody the very essence of luxury, offering guests an intimate retreat in the heart of Mayfair with the dynamic spirit of the city.”
JLL acted for Grosvenor, and EIH London Investments was advised by Johnny Sandelson.
From: financialexpress
Financial News
