Prime Investors Capital has hired JLL to secure new financing to transform Admiralty Arch, SW1, into a Waldorf Astoria hotel.
The Admiralty Arch Waldorf Astoria is set to be a 96-room, five-star hotel, according to its website.
The £500m project is scheduled to complete in 2022.
Prime Investors Capital, founded by Rafael Serrano, bought a 250-year lease on the building from the government in 2015, paying an initial £60m with the intention of investing a further £100m in the conversion.
The firm also owns the Bvlgari Hotel and Residences in Knightsbridge, SW7.
Hilton Worldwide Holdings, which owns the Waldorf Astoria brand, was approached for comment.
JLL declined to comment.
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