Queensway has secured planning permission to transform a City office building into a 239-bed hotel.
The approved scheme, which Savills’ London planning team advised on, will repurpose the existing 75,000 sq ft office building at 29 Clements Lane via a retrofit first approach.
The scheme will include a ground-floor café and co-working space, a bar, and lounge area, reinstating a food and beverage use in space previously occupied by the Red Lion pub.
The plans include reinstating the original lightwell above Plough Court to improve natural light and boosting the building’s sustainability credentials by reusing the existing structure, which is in the Bank conservation area, and targeting a BREEAM ‘excellent’ rating.
Savills director Iain Buzza said: “We are delighted to have secured this permission with Queensway in collaboration with the City of London Corporation. We look forward to helping to deliver a new hotel in the heart of the City, to contribute to the City’s ‘Destination City’ objectives.”
Queensway acquired the site form La Salle Investment Management over five months ago.
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