Mumbai: It will soon be a story of rising from the ashes for the 1993-bomb blasts survivor, Mumbai''s Sea Rock Hotel. But first it will be razed to the ground, before it rises again.

Delhi-based Suresh Nanda and son Sanjeev Nanda, the new owners of the hotel, have reportedly secured the necessary approvals to rebuild the hotel, once a preferred locale for several Bollywood blockbusters.

According to Peter Leitgeb, president and CEO of The Claridges Hotels & Resorts, which is Sea Rock''s holding company, the demolition is expected to commence by the end of 2007, with the detailed blueprint being put in place. The "new" property would be soft-launched by the company by mid-2010, and the new owners say, it would host some never-before features that would be a first in Mumbai.

Claridges has reportedly earmarked $220 million for the hotel component alone. The overall development cost is yet to be made public.

Taj Lands End''s "new" neighbour will boast around 350 five-star deluxe hotel rooms, and could also have state-of-the-art meetings and conferencing areas, exotic food and beverage concepts, with health and wellness facilities.

If the promoters have their way, the sea-front area would wear a "beach resort look", with of adventure/water sports activities being part of the deal. The other parts of the property will form 90 serviced residences, and a shopping mall housing the most premium of brands.

With the promoters being in talks with the Mandarin Group for over two-and-a-half years, there is a possibility, according to Leitgeb, that the hotel would be launched under the Mandarin brand. Talks are also on with premium international spa companies like Banyan Tree, Six Senses and others to manage spa facilities across their premium luxury hotels.

Claridges at New Delhi will continue to remain the group''s flagship property. The palace resort at Mussoorie, the Nabha Palace, has also been branded as a Claridges property.

The management is looking to grow the Claridges brand as a collection of premium luxury hotels in India and neighbouring countries, sometime in the future. The 137-room Claridges Hotel in New Delhi is currently in the final stages of its first phase of renovation.

The Nandas have put in Rs40 crore, with two similar-sized investments planned for phase two and three. The entire Sea Rock project will be completed by 2009-10, morphing into an ultimate luxury boutique hotel once the renovations are completed.