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Pakistani billionaire buys Mayfair hotel
By Tom Walker
Pakistani entrepreneur Mian Muhammad Mansha has acquired the luxury St James's Hotel & Club in London in a deal believed to be worth around £60m.
The 60-bedroom boutique hotel is currently managed by Althoff Hotels.
Property agents Savills and Gerard Nolan & Partners acted on behalf of the hotel's previous owner - an unnamed UK property company.
It is expected that Mansha will invest in redeveloping and rebranding the hotel, although no details have been announced.
Pakistani entrepreneur Mian Muhammad Mansha has acquired the luxury St James's Hotel & Club in London in a deal believed to be worth around £60m.
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