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Peninsula announce plans for London location
By Tom Anstey 24 Jun 2013
The Peninsula Hotel in France is currently under development
Peninsula Hotels has announced the development of its first location in London after revealing plans for a new luxury development near Hyde Park Corner and Buckingham Palace.
Peninsula's parent company Hong Kong and Shanghai Hotels have purchased a 50 per cent stake for the property in Belgravia from real estate investment trust Derwent for £132.5m ($204.2m, €155.8).
Freeholder Grosvenor purchased the other 50 per cent of the property.
The site in west London will be redeveloped from a 50-year-old office block to a new Peninsula Hotel and set of offices. .
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