PwC appointed receiver of ex-Marconi building site

Partners from PricewaterhouseCoopers have been appointed receivers for a
prominent central London building which was in the midst of being transformed
into a 5-star hotel.

Russell Downs, Barry Gilbertson and Mark Shires have been appointed as joint
fixed charge receivers for the building on London’s Strand which was designed to
accommodate a hotel along with 79 luxury apartments.

Once the site of the former Marconi Building and later Citibank House, the
hotel was intended to be managed under the Silken hotel brand, and the
apartments were being developed for sale by developer Urvasco Limited.

Gilbertson said construction stopped in late 2008. He said his first task
would be to take stock of the part-built structure which may have weather damage
after being left exposed through the winter.

‘If the green shoots of recovery really are pushing up through the streets of
tourist London, then we expect that there will be very strong demand,’ he said.

Read the PwC announcment:
appointed receivers to 5-star hotel and luxury apartments being built on The
Strand, London

Related reading