London Admiralty Arch Developer Seeks Approval to Build Hotel

Prime Investors Capital Ltd., the developer of London’s Bulgari Hotel, asked for permission to turn the Admiralty Arch on Trafalgar Square into a hotel and private members’ club.

The London-based company run by Spanish developer Rafael Serrano sought approval to convert the 100-year-old building into a 100-bedroom luxury hotel, that includes the club and a public viewing gallery, according to a planning application submitted to Westminster Council on April 23.

“It is our proposal to convert this magnificent building to a five-star hotel without losing any of the quality of the architectural fabric or structure of the building, which has the greatest historic and visual significance,” the company said in the application.

The U.K. government sold a 99-year lease to Admiralty Arch to Prime Investors Capital for 60 million pounds ($92 million) in October 2012 as part of a plan to cut costs by disposing of real estate. The government has raised more than 1 billion pounds since May 2010 by selling excess property and land, the Cabinet Office said in March.

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