A Chinese property group is to build a luxurious hotel on London’s South Bank as part of a £700m investment, underlining the capital’s attractions for foreign investors.
Dalian Wanda, which also confirmed yesterday its £300m purchase of UK yachtmaker Sunseeker, will build a five-star hotel at the Nine Elms regeneration site, stretching along the river Thames between Vauxhall and Battersea.
The project, Wanda’s first hotel outside China, will occupy 20,000 sq m out of a 105,000 sq m mixed-use development at One Nine Elms in Vauxhall. Outline planning permission has been granted for two towers of 45 and 60 storeys.
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