Property tycoons David and Simon Reuben are said to be in talks with Bank of China to buy £590m of debt secured against the Grosvenor House hotel in London and two New York hotels.
The Sahara Group run by Indian entrepreneur Subrata Roy owns the three hotels.
Sunday Times Business 3
The mixed-use scheme is expected to support 2,500 jobs once complete
The site holds hybrid planning consent for 1,493 homes, 475 hotel beds and 31,000 sq ft of commercial space
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