Global conglomerate Hinduja Group has acquired the Old War Office building in central London, UK, and plans to redevelop it into a five-star hotel and residential apartments.
Once occupied by Winston Churchill, the 1,100-room building is situated on an area of 580,000ft² at 57 Whitehall, near Downing Street.
The building has seven floors, which are connected by more than 3km of corridors.
The UK Defence Ministry has said that the building was sold on a 250-year lease arrangement following a competitive bidding process.
Financial details of the deal have not been disclosed, reports PTI.
The restored building will feature a spa and fitness centre among other facilities.
Hinduja acquired the building in partnership with Spain-based industrial company Obrascon Huarte Lain Desarrollos (OHLD).
Hinduja Group co-chairman GP Hinduja was quoted by PTI as saying: "With our Spanish partners, we have a unique vision for the Old War Office.
"Our ambitious plans will give it a new lease of life and add a glittering new jewel to London’s crown. The work we will do with the Old War Office is our way of giving something back to this country."
"In keeping with the dynamic spirit of London, we want to give this building a new lease of life, while remaining conscious of its unique heritage."
The State Bank of India and others entities have funded the project.
Hinduja added: "We have a new vision for the Old War Office and will work meticulously to restore the distinctive and historic fabric of the building and convert it into a distinguished hotel and luxury residences, bringing a further dimension to this prominent Whitehall landmark."
Image: The Old War Office building has seven floors, which are linked by over 3km of corridors. Photo: courtesy of ChrisO via Wikipedia.