 Savoy Palace was the London residence of John of Gaunt , King Richard II 's uncle and the nation 's power broker . In the 14th century the Savoy was the most magnificent nobleman 's mansion in England . During the Peasants ' Revolt of 1381 , rebels , led by Wat Tyler , inflamed by opposition to the poll tax promoted by John of Gaunt , systematically demolished the Savoy and everything in it . In 1512 it was rebuilt as the Savoy Hospital for the poor . It gradually fell into dereliction and was divided into multiple tenancies . It was demolished in 1816 – 20 to build the approach road to Waterloo Bridge. eventually being demolished in the 19th century . The Savoy Hotel now occupies this site . 
