06 — Real estate

Home to legends.

We own, operate and develop landmark properties — led by The OWO on Whitehall, home to Raffles London at The OWO.

Overview

London’s most anticipated address.

Raffles London is located in the Old War Office building, known today as The OWO. Designed by architect William Young on the site of the former Palace of Whitehall and completed in 1906, the Grade II* listed building was once home to leaders including Sir Winston Churchill, Lord Haldane and T. E. Lawrence. Ian Fleming was a regular visitor, and the building has featured in several James Bond films.

ONEX holds a 49% stake in The OWO joint venture alongside the Hinduja Group (2021). After years of meticulous restoration, The OWO opened on 29 September 2023. The destination spans on the order of 760,000 sq ft, with 120 hotel rooms and suites, 85 residences, a 27,000 sq ft Guerlain Spa and a rich roster of restaurants and bars — including dining by three-Michelin-starred chef Mauro Colagreco, Kioku by Endo, Papermoon and Langosteria.

In numbers

Investment, rooms, residences.

  • $1.7bntotal investment value
  • 120rooms and suites
  • 85Raffles residences
  • 27,000sq ftGuerlain Spa over four floors
The restored Edwardian façade of The OWO on Whitehall, London.
A heritage suite with red sofas at Raffles London at The OWO
01 / 02

The OWO Residences

A home in history.

85 uniquely appointed residences are shaped from the storied interiors of Britain’s former War Office. With ceiling heights of up to 4.4 m and full-length windows, they reflect classic Edwardian architecture transformed for modern living.

Amenities include lounges, a private dining room, gym and fitness studios, a treatment suite, a 16-seat cinema, a games room and secure parking. New subterranean floors house a ballroom, swimming pool and private parking; rooftop floors add light-filled terraces with some of London’s best views.

Once home to Sir Winston Churchill, Lord Haldane and T. E. Lawrence — restored for a new century.

Guerlain Spa treatment room at Raffles London at The OWO
02 / 02

First in class

An urban sanctuary for wellness.

At the Guerlain Spa, the treatment expertise of Guerlain Paris meets the movement and nutrition expertise of Pillar Wellbeing. Spanning 27,000 sq ft across four floors, with a 20-metre pool and nine treatment rooms, it is one of London’s most complete wellness destinations.

Three-Michelin-starred chef Mauro Colagreco leads dining experiences at the hotel, alongside Kioku by Endo, Papermoon, Langosteria and other bars and restaurants.

Strategy & value creation

How we create value.

Disciplined ownership across the life-cycle of each asset.

01Landmark, not commodity

We concentrate on irreplaceable buildings where heritage, location and operating partners compound long-term value.

02World-class operators

Raffles as hotel operator and a curated F&B and wellness line-up match the building’s stature.

03Mixed-use resilience

Hotel, branded residences, spa and dining diversify income across cycles.

Milestones

A clear path.

Scroll or use the arrows to move through the timeline.

  1. 1906

    Old War Office completed on Whitehall.

  2. 2021

    ONEX acquires a 49% stake in The OWO joint venture with the Hinduja Group.

  3. 2023

    Raffles London at The OWO opens on 29 September after multi-year restoration.

Footprint

Where this business sits.

Select a pin or a legend entry for details.

  1. 1The OWO, LondonRaffles London · 85 residences
  2. 2DubaiONEX Holding

Sustainability

Heritage restored for the long term.

Restoring a Grade II* landmark extends the useful life of embodied carbon already invested in the structure, while modern building systems and wellness amenities meet contemporary expectations.

Related news

Real Estate news

All news

· Real Estate

The OWO and Raffles London at The OWO open in Whitehall

· Real Estate

ONEX acquires a 49% stake in The OWO joint venture with the Hinduja Group

← All sectors