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Marriott Grosvenor Square – Image Credit Marriott International
Evolution Investment Fund has acquired two central London luxury hotel developments from O&H Grafton Developments, with a total capital commitment of approximately £1.1 billion, including development costs.
The acquisition includes a long leasehold interest in the 237-key, 198,000 sq ft London Marriott Hotel Grosvenor Square, located on the north side of Grosvenor Square, and a luxury hotel development site with planning consent at 8-10 Grafton Street and 22-24 Barlow Place. The Mayfair scheme will comprise 94 hotel rooms and six luxury residences in a 12-storey, 157,000 sq ft building designed by Foster & Partners.
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. The company described the £1.1 billion investment as a significant vote of confidence in London’s long-term growth prospects.
Former UK Chancellor Nadhim Zahawi has been appointed as 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 the acquisitions represent their long-term conviction in the enduring quality, resilience, and global appeal of London. “We plan to invest significantly in these locations, driven by a firm belief in their exceptional long-term appeal,” the spokesperson said.
Spartan Management Services advised Evolution on the transaction.
