Austrian hoteliers Rudolf and Christian Ploberger are selling Bow Street Magistrates Court after obtaining planning permission to convert the Grade II listed former court in to a five-star boutique hotel.
Established in 1789, the site has hosted a number of high profile cases including Oscar Wilde, mass murderer Dr Crippen, Casanova, Lord Archer and the notorious Kray twins before closing in 2006.
Building contracts are in place for the 90,000 sq.ft site to open in two years’ time, and an un-named Michelin chef is reportedly keen to run the hotel’s restaurant and bar.
It is estimated that suites looking on to the Royal Opera House could cost guests up to £2000 per night, with stays in one of four converted prison cells selling for under £200 a night.
Gerard Nolan & Partners have been appointed by the Ploberger’s to advise them on their disposal.
Nolan said: “Bow Street will be the best boutique hotel London has ever seen. Covent Garden has the biggest footfall for tourists in London combined with the highest spend per sq. ft.
"The magnificent building occupies an island site, combined with its notorious history opposite the Royal Opera House it doesn’t come much better as a location.”
Gerard Nolan & Partners recently sold the £110m leasehold for the Great Scotland Yard Hotel slated to open in 2017.