A Foster + Partners-designed hotel in central London is to be sold after administrators were called in by the developer’s bank
As reported today the Financial Times, the Spanish company Group Urvasco brought in the practice to design a 170-bed hotel and 90-apartment building on the site of Marconi House, which forms part of the island that sits between the Strand and Aldwych.
Work on the half-finished project has on hold for a number of months. Price Waterhouse Coopers has been brought in by Spanish bank BBVA to assess the project’s viability.
It is the latest set back to befall the architect. On 16 March, the AJ reported that Foster + Partners’ £230 million remodelling of the Camp Nou for Barcelona Football Club is also believed to be delayed indefinitely, as construction slows down across the city and real estate prices fall sharply.