Qataris ‘close to buying London's W Hotel’
London , September 8, 2011
A Qatari sovereign wealth fund is close to buying the W Hotel in central London tourist destination Leicester Square for almost GBP200 million ($318 million), a source close to the sale told Reuters on Thursday.
The 10-storey property opened in February this year and has 192 rooms, a Michelin-starred restaurant, a 35,000 sq ft M&M's store and 11 apartments.
It was put up for sale in January by property broker Jones Lang LaSalle for Northern Irish developer McAleer & Rushe.
Qatar, the world's largest exporter of liquefied natural gas, has snapped up a number of British assets in recent years, ranging from luxury department store Harrods to stakes in grocer J Sainsbury and the Olympic athlete's village in east London.
News of the deal was first reported by the Times newspaper. – Reuters
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