BUSINESS
The Hinduja Group, in partnership with a Spanish industrial company, has acquired UK's iconic Old War Office building that was once occupied by Britain's war-time Prime Minister Winston Churchill.
The heritage building was acquired by the Hinduja Group, headed by SP Hinduja, Chairman, and GP Hinduja, Co-Chairman, in partnership with Obrascon Huarte Lain Desarrollos (OHLD).
The landmark building at 57 Whitehall in central London will now be restored and re-developed into a five star hotel and residential apartments, and will also feature a series of private function rooms as well as a spa and fitness facility.
Previously inaccessible to the public, a commitment has also been made to grant new access to the building with an outdoor public space also part of the re-development plans. Britain's Ministry of Defence confirmed that the Hinduja Group, in partnership with OHLD, who's main shareholder is Grupo Villar Mir, has been successful in the acquisition of the Old War Office.
The 580,000 square-feet property was sold on a 250-year lease arrangement to the companies for an undisclosed sum following a competetive marketing process, it said on Friday.
Srichand P Hinduja and Gopichand P Hinduja, on behalf of the company, said, "We will make every efforts to honour the heritage and restoration of this national monument, elevate its status and reconnect it with the public." "We will forge a new future for the site, creating a vibrant and sustainable destination that retains and enhances the historical importance of the building. We are proud to be playing such a crucial role in this new chapter for the Old War Office," the Hinduja brothers said.
Juan-Miguel Villar-Mir, Chair of the OHLD Group and Grupo Villar Mir, said: "We are very proud to be participating in one of the most important development projects in the world." "We have a thorough understanding and appreciation of heritage and conservation issues and our commitment now as custodians of this landmark building is to leverage its untapped historical value and potential cultural and social significance," he said.
Once the office of Churchill, the building was constructed in the years between the start of the 20th century and the outbreak of the First World War.
With an almost incalculable contribution to the history and heritage of Whitehall, the Old War Office has been witness to events of utmost importance, most notably the World Wars, with crucial decisions having been taken within its walls, especially significant in this centenary year of remembrance.
As the historical, architectural and social importance of the building cannot be underestimated, both strategic partners will use their considerable experience in the re-development of heritage properties and work closely with English heritage and specially chosen restoration experts to ensure the building is accorded the respect it deserves. Recent examples of their expertise in this area include the restoration of Carlton House Terrace in London by the Hinduja Group and OHLD's Canalejas project in central Madrid.
The lead investor on this project is the Hinduja Group of Companies, one of the largest diversified business groups in the world with a multi-billion pound turnover, employing over 80,000 people in more than 100 countries. Their partners Grupo Villar Mir, is one of the largest privately owned Spanish industrial groups, with a major international presence and a diversified portfolio of activities.
Co-developer OHLD has unique and significant international experience in the development of the highest category of mixed use real estate projects with heritage and natural preservation sensitivities.
DNA TV Show: Congress not to contest UP by-polls, lends 'unconditionally' support to SP
Venom The Last Dance movie review: Tom Hardy's final Marvel outing is a king-size disappointment
Pushpa, Stree 2 choreographer Jani Master gets bail in sexual assault case
Who is Justice Sanjiv Khanna, the next Chief Justice of India?
KL Rahul rejects retention offer from Lucknow Super Giants, set to enter IPL 2025 auction: Report
Mukesh Ambani's Reliance to give bonus share ahead of Diwali, check last date to apply
When Hollywood actress Natalie Portman insulted a BIG Bollywood megastar, he was asked to 'get lost'
J-K: 2 porters killed, 3 soldiers injured after Army vehicle attacked in Gulmarg
Shah Rukh Khan is back on small screen with legendary tale, it will lead up to…
Pre-Diwali Skincare: 5 quick tips to achieve flawless skin this festive season
Bomb threats to Indian planes continue: More than 80 flights receive fresh security alerts
Mumbai Police arrests vegetable seller from Jamshedpur for sending death threat to Salman Khan
'Dukh toh hota hi hai': Ex-India star blames MS Dhoni for dropping him at the 'peak of career'
Amitabh Bachchan defended Aishwarya Rai after she opted out of this film due to...
THIS company lost Rs 36430 crore in 6 hours, it's not Mukesh Ambani's Reliance, Tata Motors
Narak Chaturdashi 2024: Know the date, time, rituals, significance of Choti Diwali
'Attitude is...': Ex-Tesla employee shares experience working with Elon Musk
IND vs NZ: Washington Sundar scripts history in Pune, becomes first Indian to achieve big feat
Mukesh Ambani hails Meta CEO, says Mark Zuckerberg will go down in history for...
SC issues notice to Ajit Pawar on Sharad Pawar faction's plea over NCP 'clock' symbol
'UPSC hotspot': THIS college produces most IAS, IPS officers every year
Unlock the Power of Quick Recovery: Why every windows PC needs RestoreX360
Royal Enfield first electric bike spotted, it will be unveiled on…
'Dead' baby found alive during funeral in..., what happened next will SHOCK you!
Anil Ambani gets good news ahead of Diwali, his Rs 17016 crore company receives...
Apple iPhone 16 pro is now available for just Rs 52,930 on Amazon, how you can grab this deal
Diwali 2024: 5 vastu-friendly home decor tips to welcome wealth, prosperity this Deepawali
'Breasts, not oranges': Cancer awareness campaign by Yuvraj Singh's NGO draws flak, DMRC recalls it
Virat Kohli reveals being in tears while talking to Anushka Sharma following THIS incident
Man kidnapped from chaat stall, but there's a twist, watch viral video
IND vs NZ: R Ashwin goes past Australia's Nathan Lyon to set new World Test Championship record
Dhanteras 2024: Date, significance, shubh muhurat and more
Nvidia rolls out Hindi-language AI model in India: What is it and how will it work?
Netizens not happy with this billionaire's apartment in Bengaluru, says, 'you can afford better'
'Kejriwal, Atishi looted Rs 8,500 crore for...': BJP protests at Yamuna's Chhath Ghat
Cyclone Dana trains cancelled: Over 300 trains cancelled, check full list here
Bengaluru school's Rs 1.5 lakh fees for Nursery sparks controversy, parents' reaction goes viral
THIS rule will change from November 1, Airtel, Jio, Vi, BSNL users should pay attention, it will...
Video of man dancing around Russian woman at India Gate goes viral, sparks online debate
Innovating the Future: Aniruddh Tiwari's visionary advancements in AI and aata analytics
Revolutionising Enterprise Data Frameworks: How one lead data engineer is driving innovation
Pakistani model's BOLD move, walks Miss World ramp without...; watch video
What role did IAS officer Srushti Deshmukh's family play in her UPSC success? Details here
BIG allegation against Donald Trump, ex-model says former president groped her in front of...
THIS rule made by Ratan Tata won't allow Noel Tata to become Tata Sons chairman, it is...
JioHotstar domain acquired by Delhi-based app developer, he now wants Mukesh Ambani's Reliance to...
Alia Bhatt was totally smitten with Aishwarya Rai's dance videos because...
Ind vs NZ 2nd Test: When, where to watch India vs New Zealand 2nd Test match live
When Salman Khan broke his silence on blackbuck case: ‘Just because I cannot…’
Hyundai Motor India launches historic IPO, paves way for innovation and growth in automotive sector
BIG change in world's richest people list: Mukesh Ambani, Gautam Adani's fortunes now...
Ananya Panday gets trolled for her outfit, netizens say ‘she is getting Janhvi-fied’
Tom Holland confirms Spider-Man 4, reveals film will go on floors in...