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Evolution Investment Fund has acquired two central London luxury hotel developments from O&H Grafton Developments, representing a total capital commitment of around £1.1bn including development costs.
The London Marriott Hotel Grosvenor Square
The new vehicle, which invests in luxury hospitality assets, acquired a long leasehold interest in the London Marriott Hotel Grosvenor Square; and a luxury hotel development site with planning consent on New Bond Street at 8-10 Grafton Street and 22-24 Barlow Place.
Evolution, launched in 2025 by the United Arab Emirates-based Shanshal family and based in the British Virgin Islands, intends to create and operate both assets. It called the £1.1bn investment a “significant vote of confidence in London’s long-term growth prospects”.
The London Marriott Hotel Grosvenor Square is a 237-key, 198,000 sq ft hotel on the north side of Grosvenor Square.
The scheme at 8-10 Grafton Street & 22-24 Barlow Place will comprise 94 hotel rooms and six luxury residences. The Forster & Partners-designed plans will deliver a 12-storey building totalling 157,000 sq ft as part of a new ultra-prime hospitality offering in Mayfair.
The company has also appointed former Tory chancellor Nadhim Zahawi as its new director of the acquisition entities.
Zahawi said: “I’m delighted to have joined the two UK boards at this exciting stage of Evolution’s history. I look forward to using my experience to support the Shanshal family and team to deliver world class luxury hospitality assets in Mayfair and in the UK.”
A spokesperson for the Shanshal family said: “Our first two acquisitions in Mayfair are much more than prime London assets; they represent our long-term conviction in the enduring quality, resilience and global appeal of this magnificent city.
“We plan to invest significantly in these locations, driven by a firm belief in their exceptional long-term appeal.”
Spartan Management Services advised Evolution. Spartan founder and managing director Richard Faber said: “We are proud to have played our part in identifying and securing these exceptional strategic opportunities for Evolution.
“It is gratifying that super-prime London remains a magnet for international strategic investors who chose our city at a time of global competition for capital. London retains its position as the world’s favourite city.”
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