Post OWO, will look at other unique, heritage projects, says Sanjay Hinduja

Edited excerpts:

Tell us how you chanced upon this historic location and some of the challenges that the Hinduja group encountered while bidding and later restoring this historic property.

Well, we chanced upon this purely by coincidence. We were not aware that this iconic trophy was on the market. And one good day, we realized when one of our executives came to us and then we looked at it. People told us you're too late. But we managed to still put our foot in the door. And of course, we were the successful bidders. There are many challenges. It is a listed building. It is in the security parameter, just a stone's throw from 10 Downing Street and the Parliament and Big Ben.

So there are many considerations one had to think about before embarking on this. Plus the whole area is not known for luxury hotels, apartments, and F&B options. The idea was to create a destination. And yes, we had many challenges along the way. Of course, we were hit by COVID also. So in between, for four or five months, I call it COVID Phase 1, COVID Phase 2, work stopped. But thankfully, it's over now.

The total project cost, including the acquisition cost, is around $1.3 bn pounds. When are you looking for returns from this investment?

Typically in this type of investment, at least in this country, it takes a good five to six years. We have 85 apartments, which is double that of any other project at the moment, so it will take five-six years.

This is your first foray into the hospitality business. It is also the first time that Raffles of Singapore as a brand has been introduced to U.K.

In fact, all the partners we have are for the first time in the U.K.

Right. I'm assuming you're also referring to the F&B brands and the restaurants

F&B brands, the spa partner, all for the first time.

What distinguishes this luxury project from the rest that are available in London?

We have created a destination, that has everything in it - from multiple F&B options, fantastic ballroom, multiple types of apartments, all types of amenities for the residents of those apartments. So in this destination, around 730 or 740 thousand square feet, we have created everything.

Over and above the hotel, you also have residences as part of this project. Tell us more.

Yes. Well, residences, in terms of square footage, are around 188,000 square feet. We have one bedroom up to the penthouse. And they have their own amenities. They have their own spa. They have their own cinema, their own lounges. So a lot of space for a buyer.

Going ahead, what are your plans? Is this a one-off project or could this be the beginning of a string of other heritage projects which the Hinduja Group would look at from a hospitality point of view?

We are not interested in doing just any project. There has to be something different about the project. Heritage, iconic nature of the project or building, something different, not just create another 30-storey building or 40-storey building and rebrand it.

India is home to several heritage structures and venues. Would the same kind of project in India be of interest to the group?

Of course. We'll be happy to look at it if we find something unique, heritage.