THE GUARDIAN: Amanda Staveley is best known for orchestrating Abu Dhabi's and Qatar's eye-catching £7.3bn investment in Barclays in 2008
Amanda Staveley, broker to the sheikhs, has pulled off another high-profile property deal for the emirate of Qatar, which is continuing its aggressive buying spree in London.
Staveley advised the Qatari property company Barwa Real Estate on the £250m acquisition of the Park House site in Oxford Street - the biggest development in the area since the Second World War - from the developer, Land Securities.
Staveley is best known for orchestrating Abu Dhabi's and Qatar's eye-catching £7.3bn investment in Barclays in 2008, followed a few months later by the takeover of Manchester City Football Club by Abu Dhabi's ruling family. The 37-year-old former athlete and model reportedly pocketed £5m to £7.5m in fees from the latest deal.
The news came as it emerged that the Qatar Investment Authority, the emirate's sovereign wealth fund, was in talks to take a third share in the Savoy hotel in London. The 120-year-old hotel is owned under a 50-50 joint venture by HBOS and Saudi billionaire Prince Alwaleed Bin Talal's Kingdom Holding. It is due to reopen in October after a refurbishment that has taken 18 months longer than expected and is likely to cost more than twice the originally budgeted £100m. The hotel comes with a big debt burden – its 2008 accounts showed loans of $212m and that figure is likely to be higher now.
Another part of the QIA, Qatar Holding, is said to have joined the bidding war for Grosvenor House, the five-star hotel put up for sale by Royal Bank of Scotland at the start of the year. The hotel, on Park Lane in Mayfair, has attracted interest from a handful of bidders, including the Abu Dhabi and Singapore sovereign wealth funds. The sale is expected to raise at least £500m. >>> Julia Kollewe | Thursday, June 17, 2010
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