The final go-ahead still has to be given by the Westminster City Council, but the Daily Mail confirms that Serrano has paid £60 million for a 99-year lease on the building, and if he gets his way, he'll convert it into a 100-room hotel, complete with royal and presidential suites, a ballroom, spa and fine dining restaurant.
No word yet on room rates, but we're expect something in the £400-£500/night range. Hey, who ever said London was cheap?
The building connects Trafalgar Square and The Mall, and featured prominently during the Queens' Jubilee this summer, though the public has rarely had access to it. Until now, that is....
As these photos on the Daily Mail show, the apartments inside the building are actually kind of cozy-looking. We hope Serrano's vision doesn't include another Bulgari, which would be a huge travesty. Instead, we're hoping for something simple, elegant, and reminiscent of the building's 100-year-old history. After all, the views of Buckingham Palace alone ought to be better than the Bulgari's view of dudes sitting on the couch watching TV.
Would you stay at the Admiralty Arch Hotel? Or do you think the landmark building is better left untouched? Let us know in the comments below!