According to the Sunday Times, Royal Bank of Scotland, which took control of the property in 2001 when it paid 1.2 billion pounds for 12 Le Meridien hotels as part of a sale- and-leaseback deal, has agreed to sell Grosvenor House Hotel to Subrata Roy for a knock-down price.
The five-star hotel will be sold for about 470 million pounds, the report said.
Sahara is believed to be taking advice from consultants DTZ and Blandford Goldsmith on the real estate deal.
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