In 1903, Leopold Albu, managing director of the General Mining and Finance Corporation and chairman of the Phoenix Oil and Transport Company, was granted a new 63-year lease on the property on condition that he spent at least £20,000 on improvements. Instead he chose to rebuild altogether, erecting on the site a new house at a cost exceeding £50,000. His architect was
A. N. Prentice and the work was completed in 1907. The design closely followed that of the adjacent house. All the rooms were decorated in the
Louis XVI style associated with the
Ritz Hotel of 1906. Much of this survives intact though, as was fashionable in the 1930s, some of the gilding visible in the drawing room which became the Argyll Room was overpainted with cream, of which much remains. Following Mr Albu's death on 19 March 1938 aged 77, a series of auction sales at
Christie's and elsewhere appear to have been held in which the paintings, furnishings etc. of his house at 4 Hamilton Place were sold. In March 1939 the
Royal Aeronautical Society moved into No. 4 Hamilton Place. Some minor alterations were required but these were kept to a minimum. Mr Albu's dining room on the ground floor became the society's Council Room. During the Second World War staff remained on the premises, but many archives and records were removed to safety. The house suffered blast damage on seven occasions. In 1957 the reconstruction of Hyde Park Corner and the chance to purchase land from No. 5 gave the opportunity to build on the No. 4 Hamilton Place's garden, which, until then had adjoined the park so that access problems would have been almost insuperable. The remainder of properties on the street aside from these two were demolished. A successful appeal by the president of the Royal Aeronautical Society,
Sir Arnold Hall, raised most of the money for a lecture theatre, which was opened in December 1960. At the same time the opportunity was taken to add a fifth floor to the top of the house to provide additional office space. Alterations were made to the fourth floor, which had been servants' bedrooms in Mr Albu's time, to provide a housekeeper's flat and better office accommodation, and the lease was extended to 2004. This was subsequently extended to 2059. During 2003 the lecture theatre was refurbished and re-equipped following a donation from the
Boeing Company and officially reopened as the
Bill Boeing Lecture Theatre by
Phil Condit, then chairman and CEO of the Boeing Company, on 10 November 2003. In 1987 the library was removed from the first floor to the third, and Mr Albu's magnificent drawing room is now used for formal dinners, buffet parties and other similar functions. It is known as the Argyll Room in honour of the society's first president, the Duke of Argyll. In the following years other rooms were named, mainly after British aviation pioneers. During 2006 the basement area under the lecture theatre, which for many years had been used as an overflow book and journal store for the library, was cleared and completely refurbished following generous sponsorship by
Airbus UK, to create the Airbus Business Suite consisting of three meeting rooms and a members' area with computer access and flat-screen TV. This was officially opened by Iain Gray, then managing director of Airbus UK, on 18 July. In 2008, a final basement storeroom within the Airbus Business Suite was converted into the
de Havilland Room. On 31 March 2009 the Royal Aeronautical Society completed the purchase of the
freehold of No. 4 Hamilton Place from the
Crown Estate, thereby safeguarding its headquarters for future generations of aeronautical engineers. ==In popular culture==