The US Embassy in London may be turned into a hotel by its new owners.

The Grade II-listed building in Grosvenor Square, Mayfair, has been acquired by Qatari Diar – the Qatar government’s real estate investment arm – for an undisclosed sum.

The Embassy will continue to operate at the Chancery building, which was designed by Eero Saarinen and opened in 1957, until it moves into its new headquarters in 2016.

Qatari Diar has not officially revealed its intentions for with the 600-room building, but it is thought that plans include turning the site into a luxury hotel with residential apartments.

However, the façade of the building, including the iconic eagle on the roof, must remain unchanged in accordance with its English Heritage status.