The 1961-built Portuguese cruise ship Funchal was sold at auction in Lisbon on December 5 to UK-based hotel chain Signature Living.
The vessel was sold for €3.9 million (US$4.42 million) with Signature Living outbidding three other interested parties.
The ship's new owners intend to operate it as a hotel vessel permanently berthed in Central London.
Funchal has been laid up in Lisbon since January 2015 after its previous owner, Portuscale Cruises, went bankrupt.