It was announced this week that the W London – Leicester Square, UK, is to be put on the market for approximately ï¿¡200 million, ahead of its scheduled opening on Valentine's Day in February.
The sale of the freehold property also includes 35,000 ft2 of retail space which is to house Europe's first M&M's World shop and 11 residential flats.
Northern Ireland-based property development, investment and construction firm McAleer & Rushe bought the project, the former Swiss Centre building, from British Land for ï¿¡47 million in 2004.
Commenting on the sale of the 192-room hotel, a spokesperson for McAleer & Rushe said: "Over recent months, we have had numerous direct approaches from parties interested in buying the building…our priority is to ensure the successful completion of this project on time and on budget."
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