courtesy of Ninety90
LONDON – August 2023 – Bain Capital Special Situations and Orka Investments Limited are delighted to confirm that the Park Lane Mews Estate has received planning permission to create a luxury lifestyle boutique hotel and prime residential building.
The hotel will feature 82 rooms and destination dining, including a signature restaurant, a vibrant lobby bar and café, and a private members’ space. Alongside the hotel, the space will deliver 16 luxury residences across two elegantly restored Hertford Street townhouses.
The site is enviably positioned within Mayfair, adjacent to Park Lane and steps away from Mayfair’s private members’ clubs, luxury retail stores and London’s iconic Hyde and Green Parks. Hertford Street is one of the most prestigious addresses in London, in one of its most sought-after locations.
Rafael Coste Campos, Managing Director and Bain Capital Special Situations, commented:
“Our expertise in the UK hospitality industry and focus on sustainability have guided our plans for Park Lane Mews to create a world-class, energy-efficient hotel. With guidance from the forward-thinking approach of Buckley Gray Yeoman architects, we are aiming for a BREEAM ‘Excellent’ rating by retaining and refurbishing much of the existing building.
We are strong believers in the London prime residential and hospitality market’s fundamentals on the back of resilient demand and constrained supply, and it remains at the forefront of our European real estate strategy. This is another opportunity for us invest alongside best-in-class partners to deliver a high-quality product that is sympathetic to its locale.”
Oskar Sköldberg, Co-Founder at Orka Investments, commented:
“Having purchased the site in 2021, we are immensely proud to repurpose an important element of London history. We are delighted that Westminster Council shares our enthusiasm by approving our vision and we look forward to delivering a significant investment that breathes new life into this corner of Mayfair.”
The leading team assembled to oversee the large-scale refurbishment and rebuild programme, includes AJ100 Architecture Practice of the Year 2023 Buckley Gray Yeoman, CIT, Albion Nord, London Structure Labs, Hoare Lea, Donald Insall Architects, Colour, Sweco, Pell Frischmann, GIA and Humble Arnold.
Timothy Shepherd, Managing Director at Buckley Gray Yeoman, commented:
“The opportunity to design and deliver a new hotel in Mayfair is rare and privileged one. We have approached the design with care and attention to detail to ensure it blends into the fabric of Mayfair society with effortless style. We envision the hotel becoming a classic within the London hotel market whilst demonstrating how retaining and restoring properties and constructing new buildings, where necessary, can unify sensitive and exceptional parts of London.”
Orka Investments and Bain Capital Special Situations have been supported by: CIT on construction and development management; Gardiner & Theobald on cost consultancy; DP9 on planning matters; Hamilton Pyramid on hotel operations and design; and Cascade on communications and stakeholder engagement.
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About Bain Capital Special Situations www.baincapitalspecialsituations.com
Bain Capital Special Situations has $15 billion in assets under management and has invested $28 billion since its founding in 2002. We provide bespoke capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners – in all market cycles. The strategy brings together credit and equity expertise, as well as corporate and real asset expertise, to provide solutions which cannot be met by traditional providers. We invest globally across capital structures in corporate debt and structured capital solutions, distressed assets, non-performing loans, real asset opportunities, and growth equity. Our dedicated, global team of 100 investment and portfolio professionals contribute the local expertise and capabilities that enable that enable these diverse investments.
About Orka Investments www.orkainvestments.com
Orka is a technology-driven investment and advisory firm, founded by Raoul Malhotra and Oskar Sköldberg in 2020. Orka is headquartered in London with additional presence in Europe and the Middle East. Orka’s focus is the acquisition and manage-to-core execution of real estate located in key cities and other high-barrier to entry locations. Over the course of their careers, the Orka principals have transacted on over €7 billion of real assets across Europe and the USA.
About Buckley Gray Yeoman www.bgy.co.uk
Buckley Gray Yeoman are Shoreditch originals. Based in east London since the practice was established in 1997, we create architecture & interior design that balances depth and delight. This year we were awarded AJ100 Practice of the Year 2023 – this is an accolade awarded by peers to acknowledge strength in design and diversity of projects, sectors, and practice.
We describe ourselves as agents of opportunity. We take what we find – on the ground and in the brief – and uncover unanticipated possibilities. The changes we deliver are executed with a strong sense of responsibility to our clients, but we never forget that design must also make you feel good. Our work is sensitive, thorough and authentic, but it is also unapologetically joyful and surprising.
Our family has grown from a group of three friends to a team of a hundred and thirty, which now has collective ownership of the practice. We have also spread our geographical wings, delivering projects across the UK, Europe & Asia, each carefully tuned to its own specific place and time.
Making buildings & interiors with both depth and delight demands a very special kind of studio culture. Ours promotes trust, cultivates talent and celebrates independent thought because, like all Shoreditch originals, we enjoy sitting just the right side of unconventional.
*images courtesy of Nintey90
Read the orginal article: https://www.baincapital.com/news/landmark-planning-approval-former-park-lane-mews-hotel
