Whitbread has announced plans for its latest City of London hotel, following the acquisition of an office building next to Fenchurch Street station.
Premier Inn’s owner has acquired the 1970s New London House building on London Street for £56.5 million, and plans to convert it into a hotel-led mixed use development.
Whitbread will now seek planning consent from the City of London Corporation to repurpose and extend the building – which currently comprises a podium and tower structure.
Aside from a new hotel the group plans to develop “a mix of complementary uses on Crutched Friars and London Street together with new public spaces”.
New London House is situated adjacent to Fenchurch Street station – which operates rail services towards east London and south Essex, and is also close to existing hotels including Four Seasons Hotel London at Ten Trinity Square, DoubleTree by Hilton London – Tower of London, and Novotel London Tower Bridge.
Whitbread currently has two other office-to-hotel conversions under construction in the City of London – Angel Court in Moorgate, and the former Snow Hill Police Station off Holborn Viaduct.
London’s former Snow Hill Police Station to become Hub by Premier Inn
Both these properties will operate under the hub by Premier Inn brand. For our Tried and Tested review of the hub by Premier Inn London City Bank, click here.
Commenting on the news Mark Anderson, managing director for property and international at Whitbread, said:
“We are seeing a structural shift in the London office market presenting opportunities to acquire office buildings that are no longer fit for occupier and investor purposes and to reposition and refurbish them into successful hotels.
“Our strong balance sheet, plentiful liquidity, and ability to buy and develop freehold property, which is rare in our sector, leaves Whitbread very well-placed to take advantage of this structural shift.
“We have a strong track record of using innovative design and development to grow our hotel network in high value locations like Central London and in accordance with Whitbread’s commitments to becoming a net zero business by 2050.
“We are looking forward to working collaboratively with the City of London to repurpose New London House and create a landmark new hotel-led development in a superb location adjoining Fenchurch Street station.”
