Rosewood London goes on the market for £450m

Hong Kong’s Cheng family has put one of London’s most exclusive hotels, Rosewood, up for sale with a price tag of £450m - more than three times the amount it paid for the building in the mid-noughties.

Formerly Chancery Court, the five-star hotel, which is located on High Holborn, features 306 rooms and suites, along with a number of restaurants and bars.

The family bought the grade II-listed property in 2006 for £135m and in 2013 embarked on an £85m renovation to convert the former hotel into the Rosewood London. It has since become one of the capital's most fashionable hotels.