UK: The newly established Evolution Investment Fund has acquired two luxury hotel developments in Mayfair, London, with a total capital commitment of approximately £1.1 billion, including development expenditure.
Evolution launched in 2025 by the Shanshal family. The British Virgin Islands–based fund is focused on acquiring, developing, and repositioning luxury hospitality assets globally, targeting “iconic locations” in gateway cities.
The firm has acquired the long leasehold interest of London Marriott Hotel Grosvenor Square and the the fully consented 8–10 Grafton Street and 22-24 Barlow Place luxury hotel development site in New Bond Street from O&H Grafton Developments Limited.
London Marriott Hotel Grosvenor Square is a five-star, 237-key hotel. Spanning 198,000 square feet, it features the Gordon Ramsey Bar & Grill, the Lucky Cat by Gordon Ramsay, a cocktail bar and lounge, and a ballroom.
The project on Grafton Street and Barlow Place will include 94 hotel keys and six luxury residences, with plans by Forster & Partners to deliver a 12-storey tower.
A spokesperson for the Shanshal family said: “Our first two acquisitions in Mayfair are much more than prime London assets; they represent our long-term conviction in the enduring quality, resilience and global appeal of this magnificent city. We plan to invest significantly in these locations, driven by a firm belief in their exceptional long-term appeal.”
Nadhim Zahawi, director of the UK acquisition entities, added: “I’m delighted to have joined the two UK boards at this exciting stage of Evolution’s history. I look forward to using my experience to support the Shanshal family and team to deliver world class luxury hospitality assets in Mayfair and in the UK.”
Evolution will operate both assets.
Spartan Management Services, led by Richard Faber, acted as exclusive financial and strategic advisor to Evolution across both transactions, leading the origination, structuring and negotiations of the acquisitions.
Patrick Williams of Fried Frank acted as UK legal advisor and Madeleine Fabre of Ginestie as structuring legal advisor to Evolution across both transactions.
Highlights:
- Evolution Investment Fund has committed to invest more than £1 billion in two prime luxury hotel assets in Mayfair, London.
- The acquisitions include the London Marriott Hotel Grosvenor Square and a new hotel/residential development at Grafton Street and Barlow Place.
- Spartan Management Services, Fried Frank, and Ginestie advised on the strategic, financial, and legal aspects of the transactions.
- Based in the British Virgin Islands, Evolution will acquire, develop, and reposition luxury hospitality assets globally, targeting “iconic locations” in gateway cities.
