The Lanesborough Hotel has revealed it will host a once in a lifetime auction of its luxury furnishings as it undergoes a complete renovation.

The property, which is owned by the Abu Dhabi government, hopes to raise around £2 million through the sale of millions of luxury items.

The sale will take place from December 9th, with buyers from around the world expressing interest.

The Lanesborough Hotel, which was founded as a hospital in 1827 and became a five-star hotel in 1991.

Located on London’s Hyde Park Corner between Knightsbridge and St James’s Park, it is home to Heinz Beck’s Michelin-starred Apsleys and is managed by the St Regis, a brand of Starwood Hotels.

Popular with celebrities and wealthy Russian and Arab guests, around 3,500 items are set to go under the hammer during an auction.

The furnishings and fittings, which range from £5,000 chandeliers and four-poster beds to small framed prints and paintings, are likely to raise an estimated £1.2 million.

The 93-room hotel, where rates currently start from £400 a night, will close on December 20th for a complete renovation.

The property is expected to reopen in late 2014.