The former Tower Bridge Magistrates’ Court and police station 0.62 acre site in Tooley Street, London, has been acquired by the London based asset management firm, Dominvs Group.
The 46,000sq.ft Grade II listed property lends itself well to a number of alternative uses, the most appropriate being a luxury 150-200 unit hotel scheme that will regenerate and reposition the site as a landmark for the area.
The acquisition marks the eighth in the past 12 months for Dominvs Group, creating a hospitality portfolio spanning 500,000 square feet and a forecast room count in excess of 1,200.
“After an intensive competitive bidding process, we are pleased to have secured the Tower Bridge site.
“This is a once a decade investment opportunity and its prime location parallel to the Thames River and access to central and south-east London, aligns with our London acquisition strategy,” said Preet Ahluwalia, director. Dominvs Group.
Dominvs Group specialises in the asset management of strategic commercial, industrial and residential properties across the UK for its clients.