Overview
- Evolution Investment Fund has taken long leaseholds on the 237-room London Marriott Grosvenor Square and a consented New Bond Street hotel site in Mayfair.
- The acquisitions and planned development total roughly £1.1bn in capital, including build costs, with the properties purchased from O&H Grafton Developments.
- Plans for the Grafton Street and Barlow Place scheme specify a 157,000 sq ft building with 94 hotel rooms, six residences and a 12-storey tower designed by Foster + Partners.
- Former chancellor Nadhim Zahawi has been appointed a director of the fund’s UK acquisition entities and says he will help deliver “world-class” hospitality assets.
- Launched in 2025 by the UAE-based Shanshal family and operating via the British Virgin Islands, Evolution says it intends to create and operate both Mayfair assets.