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Developer Sought for Latest London Prime Hotel Conversion Opportunity

Westminster Council Selling Long Leasehold in Odeon Cinema Site Near Leicester Square

The Huguenot House site. (CoStar)
The Huguenot House site. (CoStar)

Westminster council is seeking a developer to bring forward a landmark hotel-led London destination on the site of an Odeon cinema close to Leicester Square and Piccadilly Circus.

The existing Huguenot House mixed-use building sits on an 0.36-acre rectangular island site. The 145,000-square-foot building is close to Piccadilly Circus, Leicester Square, and Trafalgar Square. It comprises around 10,000 square feet of offices, 23,000 square feet of homes, a 9,000-square-foot cinema and an 103,000-square-foot car park.

A public procurement process will be held seeking a developer to buy the long leasehold interest from Westminster City Council.

Cushman & Wakefield has been advising on the sale with Westminster backing an Allies & Morrison-designed hotel-led mixed use scheme of 187,000 square feet and including 209 hotel bedrooms, ground and rooftop restaurants, bars, three cinema screens, coworking spaces and 35 homes.

Huguenot House was constructed in the 1960s as a 10-storey tower sitting above several basement levels.

The building contains an Odeon cinema, office space, a 247-space public car park and 35 residential units.

Cristina Balekjian, director of hospitality analytics, CoStar, says conversions to hotels from other uses have been on the rise in major cities across the UK, especially London.

"Given the high interest-rate environment, new-build development has been challenged and operators have been looking at conversion opportunities such as these. Being located right in the centre of London, close to Leicester Square, this is likely to attract a lot of interest as London remains very attractive from with a positive long-term outlook."

A Westminster City Council spokesperson said: “We have been exploring future options for Huguenot House, which includes looking for a delivery partner. The delivery partner must have significant experience of delivering well-designed buildings with high-quality homes and facilities.

“If we decide to redevelop, all options must include the re-provision of affordable homes, plus the cinema and office space which are protected by planning and deliver best value to residents and the wider community.

“We want to ensure any redevelopment or refurbishment delivers long term economic and social sustainability to the area, providing a better environment for people to live, work and visit. Residents have and will be included in every step of the process.”