Home Commercial News Development financing package set up for new £230m Marylebone hotel

Development financing package set up for new £230m Marylebone hotel

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Development financing package set up for new £230m Marylebone hotel

The funding deal with £230m for the new Marylebone hotel is confirmed by Shiva Hotels Group. This secured package will layout a luxury lifestyle hotel in London as the construction kick starts soon. The demolition and site ground works will be monitored by John F Hunt. Also, the initial substructure and frame construction works will be taken care of by John.

Starting from the early next year, a main contractor will be appointed and the construction works. The first guests would be seen in early 2023, expects the hotel management. Also, the partners in the funding deal for the Hotel are Crosstree Real Estate Partners, and Cale Street Investments.

The Managing Director of Shiva Hotels ‘Rishi Sachdev’ said that this is a major milestone for our Marylebone Lane development. This brings the delivery of what we believe will be one of London’s most iconic hotels one step closer.

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