A London penthouse with a secret history


Matthew Davies
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It's rare for a building with the history and location of the Old War Office to come on to the market. So when it did, the billionaire Hinduja brothers snapped it up, reportedly for £350 million ($444 million).

Now nearing the fulfilment of its overhaul, the five-bedroom penthouse honours the building's legacy as the home of Britain's espionage elite. Its lead designer took on the task of weaving a secret history into the modern interior design and its expansive terraces boast panoramic views across London.

Sitting at the top of Whitehall, opposite Horse Guards Parade and Downing Street, The OWO is firmly at the centre of British power and the penthouse commands views of St James's Park, Buckingham Palace and Westminster Abbey.

Designed by William Young and completed in 1906, The OWO is one of the greatest examples of Edwardian architecture in London. But the genius of the building as it reopens is just as much in its transformation from being one of the most secretive buildings in the world into a top-class Raffles hotel and residences.

The OWO in central London. Photo: Grain London
The OWO in central London. Photo: Grain London

The site had been a seat of power long before The OWO was built – it previously housed the Palace of Whitehall, home to England's monarchs, including Henry VIII, for centuries.

The baroque-style office contained more than 1,000 rooms and two and a half miles of corridors, along which the likes of Winston Churchill, TE Lawrence (Lawrence of Arabia) and Lord Kitchener would have paced.

The building was a repository of secrets. Inside The OWO in 1909, Mansfield Cumming set up a new section of the Secret Service Bureau responsible for espionage activities outside the country, a network of spies that later grew into MI6.

Indeed, Ian Fleming, who also worked in The OWO, based the “M” character in his James Bond novels on Mr Cumming.

The Bond connection doesn't stop there – five of the series' films were filmed in The OWO.

“When the Hinduja family saw this building come up for sale from the Ministry of Defence, they felt it was such a beautiful, stunning piece of history and property, very close to where they live and they're very passionate about this part of London, that they thought this was too good an opportunity to miss, to refurbish an old dame on Whitehall and turn it into something which can be celebrated by future generations to enjoy,” Charlie Walsh, director of sales at The OWO Residences by Raffles, told The National.

That buying opportunity arose in 2015 and the following seven years were spent recreating and refurbishing the Grade II listed OWO to a standard that surpasses excellence.

The grand staircase at The OWO. Photo: The OWO Residences by Raffles
The grand staircase at The OWO. Photo: The OWO Residences by Raffles

For 20 years, the international luxury hotel chain Raffles had been looking for a particular type of building in which to place its first London hotel. The company is particularly brand-aware and was not interested in a faceless skyscraper which would have luxury potential but lack a soul and a sense of history. In The OWO, though, Raffles found the history it sought.

“We see a building which has grown inside by 50 per cent,” Mr Walsh told The National.

“It's now just over 760,000 square feet, which is an extraordinarily sized building. A lot of that was involved with digging down six floors, so now it's almost as deep below ground as it is [high] above, which is extraordinary.

“And the building is now all about celebrating life, opening up for the public to enjoy, which I think is a really lovely sort of change from what it used to be.”

The public side of this former house of spies faces Whitehall, the famous London thoroughfare that runs from Trafalgar Square to Parliament Square, and will be the new 120-room, five-star Raffles hotel.

The private residences are in the more discreet back section of the building, shielded from the hustle and bustle of Whitehall.

View from the rooftop of The OWO Residences by Raffles. Photo: The OWO Residences by Raffles
View from the rooftop of The OWO Residences by Raffles. Photo: The OWO Residences by Raffles

“The residential side of the building is very private, very discreet, which is very much what our buyers want and demand,” Mr Walsh told The National.

“They want that level of privacy. They want to be able to tap into the exciting part of the hotel, the restaurants, the bars, the spa and the ballroom.

“But they also want to know that they can retreat to their private apartments and know that they won't be disturbed.

“They'll be fully looked after by an army of Raffles staff who are absolutely at their A-game, and their DNA is all about hospitality and looking after people. So, I think that's been a real driver for a lot of our buyers to date.”

The OWO has been restored by hundreds of craftspeople restoring period features including hand-laid mosaic floors, rich oak panelling, magnificent chandeliers and the dramatic marble staircase.

In the OWO penthouse it was the task of the luxury interior designers, Winch Design, to create a space which didn't feel like an extension of the Raffles hotel, but a unique home. It's one of the reasons that Winch Design was chosen to work exclusively on the penthouse.

“With our experience with private clients, we ultimately wanted to create something that was more of a private residence, a home if you like, rather than a staged apartment,” Selina McCabe, senior partner at Winch Design, told The National.

“From the very early stages we aimed to create something with personality, something that was inspired by the history of the building, but also tackled the unique architectural details of the roof and the modern edition that this penthouse is.”

OWO penthouse. Photo: Darren Chung
OWO penthouse. Photo: Darren Chung

Winch Design undertook the task of weaving the secret history in with the modern design of the five-bedroom OWO penthouse. To achieve this, it brought together more than 40 award-winning suppliers to craft and source bespoke pieces of furniture, fabrics, artwork and accessories.

“What we tried to do is celebrate that history with modern influences,” Ms McCabe said.

“The pieces that you see are a mixture of antique pieces sourced from all over the world, as well as custom-made classic pieces that are designed to keep forever and hand down.

“Meaningful objects carefully curated, rather than soulless pieces that are just plonked in a room.

“From an interiors point of view, we are so lucky to have a building that is just bursting with stories. And to have such strong stories and history already embedded into this building makes our job more effortless.”

The penthouse also features a private gym and sauna, cinema and games room, staff quarters and expansive terraces with panoramic views across London.

Throughout the penthouse's living spaces, classic furnishings are blended with contemporary fabrics, with nods to the sartorial elegance of nearby Savile Row and Jermyn Street, with a modern twist.

For example, some of the furniture designed by British maker Robert Langford evokes The OWO's Georgian architectural heritage, while a modern element is introduced via the bold, geometric fabrics designed by Pierre Frey.

This helps The OWO penthouse move beyond luxury and into the realms of unique luxury.

Mounted horse guards are seen outside the Old War Office in the 1930s. Getty
Mounted horse guards are seen outside the Old War Office in the 1930s. Getty

“There's one corner which we all love, because it's got this beautiful 19th century Scandinavian chaise,” Ms McCabe told The National.

“It’s sat in front of the most exquisite, modern drinks cabinet made by the brilliant Edward Johnson, and then sitting above it is the most beautiful artwork created out of folded fabric by one of our wonderful Qest [Queen Elizabeth Scholarship Trust] scholars who's just at the beginning of her career.

“So, three completely different entities coming together to create something carefully created and really meaningful.”

Another key feature of the penthouse are its roof terraces. Impeccably laid out and furnished by Winch Design, the views of London's landmarks are a feast for the eyes. But crucially, the terraces are only seven stories up, so there's a feeling of really being in the Whitehall location, among the impressive architecture of the surrounding buildings, which would be impossible to achieve from a penthouse in a skyscraper.

Those who live in the 85 OWO residences and the penthouse can be as public or as private as they desire. They have full access to the amenities of the Raffles hotel, with its nine restaurants, three bars, immersive spa, 20-metre swimming pool, ballroom with a capacity for 620 seated guests and Winter Garden for afternoon tea and elegant daytime dining.

But there is also 30,000 square feet of amenity space within The OWO itself, separate from the hotel. Residents have access to their own 16-seat cinema, games room, gym with studios and treatment rooms, and seven lounges.

“We've got a bit over a third of the building sold already and we've got a really amazing plethora and mix of nationalities in the building, which is really nice,” Mr Walsh told The National.

“I'd say our biggest demographic of buyers is either American or British – the Americans love the history of the building, the heritage and link to the James Bond characters, Ian Fleming and, obviously, Winston Churchill.”

Outdoor terrace seating. Photo: The OWO Residences by Raffles
Outdoor terrace seating. Photo: The OWO Residences by Raffles

For Mr Walsh, the trend in high-end luxury property leans more towards providence than it does towards flashy bling, which means The OWO residences and the penthouse, with their heritage, are a unique offering. This building doesn't have to scrabble around to overstate a history or connection to a famous person or event.

“A lot of developments have to try very hard, be it through branding or other means, to create a backstory, the history of the building,” Mr Walsh said.

“We are spoilt for choice and pulling out these incredible threads of history and stories – there's almost too much content for us to focus on.

“We still will be discovering stories for many years to come.”

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Financial considerations before buying a property

Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.

“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says. 

Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.

Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier. 

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Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

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Fuel economy, combined: 7.0L / 100km

White hydrogen: Naturally occurring hydrogenChromite: Hard, metallic mineral containing iron oxide and chromium oxideUltramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica contentOphiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on landOlivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour

UAE currency: the story behind the money in your pockets
Will the pound fall to parity with the dollar?

The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.

Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.

New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.

“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.

The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.

The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.

Bloomberg

How much do leading UAE’s UK curriculum schools charge for Year 6?
  1. Nord Anglia International School (Dubai) – Dh85,032
  2. Kings School Al Barsha (Dubai) – Dh71,905
  3. Brighton College Abu Dhabi - Dh68,560
  4. Jumeirah English Speaking School (Dubai) – Dh59,728
  5. Gems Wellington International School – Dubai Branch – Dh58,488
  6. The British School Al Khubairat (Abu Dhabi) - Dh54,170
  7. Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

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Consoles: PC, PlayStation 4/5, Xbox Series X/S

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Specs

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Range: Up to 610km

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Transmission: 9-speed auto

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Rating: 4/5

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Director: Louis Theroux

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Match info:

Portugal 1
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Morocco 0

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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Rating: 3/5

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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

UAE currency: the story behind the money in your pockets
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Updated: July 11, 2023, 11:48 AM