Georgia developer envisions 'seven-star' hotel in London


The Atlanta Journal-Constitution
Published on: 04/26/08

Tan and built like the college fullback he used to be, developer Stan Thomas lives on a ranch 38 miles south of Atlanta, where prize Angus cattle are nurtured and sold.

On the other side of the Atlantic, 10 Trinity Square is a grande dame of a building overlooking the Tower of London. It's been home to the Willis Group, a global insurance giant, for more than 30 years.

The Sharpsburg deal-maker with a hankering for country living and the imposing historic building in one of the world's great cities seem an unlikely pair.

But paired they are. Thomas bought 10 Trinity for about $209 million and intends to turn it into a "seven-star" hotel. That's right —- two stars better than what's usually considered the best. Butler service will be part of the experience.

Burj Al Arab, a hotel in Dubai shaped like a sail, claims to be the world's first seven-star lodging. Its rates start at $1,500 a night.

Willis vacated the 10 Trinity building this month, so now Thomas is a step closer to opening his exclusive property, 4,200 miles from the undulating pastures of home. He's calling it 10 Trinity London.

English Heritage, the government's guardian of historic buildings, must approve the development plans before renovations can begin. A decision is due soon.

"We are in the last stretch of actually getting a permit," Thomas said this week, a few days after the 10th annual auction of elite Angus females at Three Trees Ranch, his spread in Sharpsburg. Elite Angus females are bulging black cows that can cost as much as a car.

Hotel construction work is expected to begin in the fall and finish in late 2011. Plans are to construct 103 rooms and 15 to 25 condominiums in the old edifice.

A Southside Atlanta native, Thomas, 53, built his fortune by developing shopping centers in suburban locales such as Morrow and Fayetteville.

Six years ago, the former University of South Carolina running back caused a stir in Florida when he plunked down $78 million for 26 square miles of land in Sarasota County. Now called Thomas Ranch, thousands of homes are slated to go there.

In Alpharetta, Thomas is building Prospect Park, a mix of retail, residences and offices on 64 acres. His other projects stretch from Newnan to Oceanside, Calif.

None of them, however, is quite like 10 Trinity.

"Is US real estate tycoon Stan Thomas mad?"

City Spy, a column in London's Evening Standard newspaper, posed that question in September 2006 after Thomas paid 110 million pounds for the ornate stone building, beating out more than 20 competitors.

"What's sending local eyebrows skyward is that the site was thought not to be worth more than [British Pound]40 million, if used for a hotel, because of the likely high conversion costs," City Spy said.

Since completing the sale, Thomas said he has spent another $80 million or so on pre-development work, including hiring 59 consultants, and will spend millions more converting the building.

He tried to block a neighboring hotel project —- a mere four-star —- from going forward, but London's High Court ruled against him.

Thomas was amused some Londoners think him daft for pouring so much money into 10 Trinity.

"I have some folks right now trying to buy it," he said. "The high-end residential is on fire over there. And so is high-end hotel."

Construction of 10 Trinity began in 1911, stopped during World War I, and finished in 1921, according to the Willis Group. The Port Authority of London used to be headquartered there. In 1946, the United Nations Assembly held its inaugural meeting at the grandiose building.

Thomas purchased 10 Trinity after negotiations to buy the Lanesborough, a luxury hotel in London, fell through. The press has described the low-key Thomas, who lived in a trailer as a newlywed, as a billionaire.

It's a label he won't confirm or deny.

"A Sharpsburg billionaire —- well that's great," he said, laughing. "I just want to live a quiet life and work hard."

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