After buying hotels in Manchester and Canary Wharf at the end of last year, the 14-strong Group is believed to have paid around £100m for the Leicester Square site, with planning permission for a 245-bedroom hotel, a two screen cinema, 33 residential properties and five restaurants.
Plans for the development were initially submitted by the Leicester Square Co-ownership Group and given the go-ahead by Westminster City Council in 2008.
Robert Morley, director of the Edwardian Group, said: "The purchase of this site is one of the most important acquisitions for London and we see this as another jewel in our crown.
“Not only will it be a landmark development for the capital but it will create upwards of 400 jobs. This is what our group is all about – investment in potential, creation of jobs and a huge vision for the future."
Ambitious plans
Paul Mansi, chief operating officer at the Group, added: “Leisure experiences are at the heart of the company’s DNA and we are keen to create new and exciting offerings for the local market and the myriad visitors to the City.
“The acquisition, and our ambitious plans, will both create jobs in the area and put the spotlight firmly back on the re-vitalised Leicester Square.”
Radisson Edwardian already has two properties in London’s Leicester Square – the 60-bedroom Radisson Edwardian Leicester Square and the 127-bedroom Radisson Edwardian Hampshire. A total of 12 Radisson Edwardian hotels are in the Captial, with the other two properties in Manchester and Guildford.
Singh and the Group are planning to make ‘significant announcments’ about the purchase in the coming weeks.