Blue Orchid Hotels has been granted planning permission to convert the Grade I listed 55 Broadway Complex into a luxury hotel.

The building – which straddles London’s St James’s Park Underground station – was purchased by Integrity International Group (owner of Blue Orchid Hotels) last year.

It was designed by architect Charles Holden and built in 1929 in an art deco, early modernist style, serving as the headquarters of the then Underground Electric Railways of London (which became London Transport in 1933).

The building received Grade II listing in 1970, before being upgraded to Grade I status in 2011.

The hotel will join the Blue Orchid Hotels brand, which already includes London properties The Rochester, Tower Suites and The Wellington within its portfolio.

Integrity International Group said it had “worked closely with officers and Historic England to develop proposals which seek to celebrate the building’s rich history by sensitively restoring its unique features and opening up this iconic landmark for the first time through its imaginative repurposing”.

Commenting on the news Tony Matharu, founder and chairman of both Integrity International Group and Blue Orchid Hotels, said:

“I am delighted that we are able to move forward with our well-prepared plans for this unique location. Having worked closely with TfL and a number of other stakeholders, I feel we have a shared vision for the future of this complex.

“As guardian of the heritage and historical value throughout the buildings I feel privileged to be leading this exciting project. To breathe new life into the space, create new value and to welcome everyone to enjoy this special property will be very rewarding.”