Serviced apartment provider Ascott is to open a new London property in Islington under its Citadines brand.
The 108-unit Citadines Islington London will be housed with the former Royal Mail’s sorting office, an Edwardian building which will form part of the mixed-use Islington Square development.
The property has been acquired through Ascott’s joint venture global fund with Qatar Investment Authority, with a total of £52 million to be invested in the project.
The serviced residence is scheduled to open in 2019, and will feature classic rooms, studio and one-bedroom apartments, as well as a breakfast and lounge area and a gym.
Ascott currently operates seven properties in London – Ascott Mayfair, The Cavendish, Citadines Barbican, Citadines Holborn-Covent Garden, Citadines South Kensington, Citadines Trafalgar Square and Citadines St Mark’s – Islington.
Ascott recently launched The Crest Collection – a portfolio of some of the group’s “most prestigious and unique serviced residences” (see news April 14).