Admiralty Arch, SW1, has been sold to Spanish investor Rafael Serrano for £60m.
Serrano, the man behind the Bulgari hotel in Knightsbridge, SW7, bought the 99-year leasehold through his company Prime Investor Capital. Working with architect Blair Associates and English Heritage, Serrano plans a 100-bedroom hotel and private residences, including a restaurant with views down The Mall and into Trafalgar Square.
The sell-off is part of the government’s property rationalisation. Savills advised on the sale.
