PricewaterhouseCoopers (PwC) is selling a partially constructed five-star hotel on the Strand in central London for bids of more than £110m.

Architects Foster + Partners designed the existing development to include 173 bedrooms, 79 residential apartments and 92 underground car parking spaces, but the new purchaser would be entitled to amend the proposed scheme, subject to planning approval.

Barry Gilbertson, a real estate partner at PwC, said: "This is a potential 'trophy' asset to a hungry market, starved of good property opportunities.

"Since we were appointed, we have already had more than 140 expressions of interest, so we expect there to be very strong competition to buy this property which right in the heart of London."

Stephen Richardson, a partner at Cushman & Wakefield, who is advising on the sale, added: "This is a development in one of central London's most highly sought after locations."

Former owner Urvasco failed to move forward with the development owing to financial difficulties, forcing the project to be handed over to the administration team at PwC in July by Spanish bank BBVA.