Michael Elliott and JLL have put Harrington Hall Hotel, SW7, located near Gloucester Road underground station, on the market.
The agents are looking for offers in excess of £130m for the vacant 200-bed, six-storey hotel, owned by Saudi Arabian multinational the Olayan Group.
The sale follows a failed attempt last year to find a buyer.
Olayan Group acquired the hotel, made up of a series of terraced houses converted in 1991, from Spanish Group NH Hotels for £90m in 2014.
The sale comes with indicative designs from EPR Architects, which also worked on the transformation of the former Midland Bank, EC2, into The Ned hotel.
The proposals for the 0.49-acre site, which do not have planning permission, would reconfigure key parts of the 121,363 sq ft hotel, and add a 1,604 sq ft two-bedroom townhouse with a separate entrance and living area.
The plans also include a new restaurant and bar, deli, events space, private members club pool, gym and steam rooms.
The site is close to the 28-storey Kensington Forum Hotel, which Rockwell and Queensgate Investments are looking to redevelop into a mixed-use scheme consisting of a 756-bedroom hotel, 174 apartments and four townhouses.
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