London hotels going offshore | theaustralian.com.au

THE recovery of London's hotel property market looks set to gather pace in the next few weeks as buyers seek to close on a clutch of deals worth more than £1.5 billion ($2.45bn). The Times reports that Singapore's Kop Group will this week agree the estimated £70 million acquisition of the former City headquarters of the Willis insurance empire for redevelopment as a super-luxury hotel.