The property is being designed by French architect Jacques Garcia and is expected to open in the Grade II listed former Baptist Church headquarters in Holborn in early 2018.
Tony Fleming, who won a Michelin star for D&D London’s South Place Hotel a year after it opened, will be executive chef, while hospitality veteran Michael Voigt will manage the hotel.
The project has received a £21m loan from OakNorth bank, which backed Leon in a £19m funding package last year, with a further £3m from RM Funds.
Once open, L’Oscar will include a restaurant, bar, cafe and conference facilities, alongside 40 bedrooms.
Garcia previously created the five-star Nomad Hotel in New York, where chef Daniel Humm – of the world’s number one restaurant Eleven Madison Park – oversees the food and beverage offering.
L’Oscar is owned by Triangle Hotels and Resorts, a division of investment group Triangle.