The joint venture between Amazon Property and British Land will see the Lancaster Gate retreat, Anouska Hempel, refurbished and turned into new apartments to form part of The Hempel Collection.
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Bouygues UK Managing Director Arnaud Bekaert said: "The Hempel Collection on Craven Hill Gardens will be a suite of new homes in keeping with the luxury and quality people have come to expect of the Amazon Property brand.
"We will retain the hotel's beautiful stucco front facade, and part of the rear facade, before remodelling the interior to create a range of 18 new high-end luxury homes out of the existing 40 bedrooms and 20 suites."
Work is expected to start on site in October.
(CD/JP)
