Macfarlanes advises Twenty14 Holdings on acquisition of Great Scotland Yard Hotel
Macfarlanes has advised Twenty14 Holdings, a hospitality investment firm based in Abu Dhabi, on the acquisition of the Great Scotland Yard Hotel in London’s Westminster from British developer Galliard Homes for circa GBP110 million.
The deal has recently completed following exchange of a forward commitment back in July 2015, at the outset of the proposed development. The hotel will operate as part of Hyatt’s Unbound Collection.
Twenty14 Holdings has a strategy of investing in profitable luxury sites whilst preserving their historical legacy. Originally Scotland Yard Police Station headquarters from 1829 to 1980, the building has now been transformed into a 92,000 sq ft high-end, 5-star luxury hotel with 153 rooms and suites boasting views of Buckingham Palace, Westminster Abbey and Nelson’s Column.
Real estate partner Dominic Cunliffe led the Macfarlanes team assisted by Kirsty Childs and Alex Crockford, senior solicitors in the firm’s real estate group. Advice on the financing for the acquisition came from partner Colin Morgan supported by senior counsel Laura Bretherton and tax expertise was provided by partner Mark Baldwin supported by solicitor Catherine Hill.
Cunliffe says: “We are delighted to have worked alongside Twenty14 Holdings over the last four years in order to deliver this prestigious addition to London’s collection of luxury hotels.”