Just four weeks away from the opening of the W London Leicester Square hotel, the building in which it is located has been put on the market, for a figure rumoured to be around £200m.
The sale will include the 192-bedroom hotel operated by Starwood Hotels & Resorts, a 35,000sqft M&M's World store and luxury apartments. It is believed there will be widespread global interest in the property, particularly from cash buyers in the Middle East and Russia.
A spokesman for the owner McAleer & Rushe, a privately owned development, investment and construction firm, said that the company has received widespread interest.
"In light of the current strong demand for prime London property we have appointed Jones Lang LaSalle to conduct a review of our best possible strategy," he said. "But our current priority is to ensure the successful completion of this prestigious flagship project on time and on budget."
The hotel, which features the Spice Market restaurant from US-based French chef Jean-Georges Vongerichten, is due to open on 14 February.
By Janet Harmer
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