Queensway Group has secured planning permission for two hotel developments in central London totalling 341 keys.
Point A Hotels
The 236-key scheme near Monument in the City and the 105-key scheme on High Holborn in Camden will reposition existing office buildings and operate under Queensway’s Point A Hotels brand.
Ryan McWaters, development director at Queensway Group, said: “These approvals reflect our continued focus on unlocking value through well-located assets in central London, including planning-led repositioning opportunities. We are actively deploying capital into similar opportunities and selectively identifying sites where clear value can be unlocked.”
The 236-key Monument hotel, in 29 Clements Lane, will repurpose the existing, circa 75,000 sq ft office building through a change of use.
The scheme will activate the ground floor through the provision of a café, co-working space, bar and lounge area on the ground floor, reinstating a food and beverage use in the historic location of the Red Lion Public House.
The site was sold by Savills on behalf of La Salle IM to Queensway and Tristan Capital. Savills also worked on securing planning permission for the scheme.
Savills director Iain Buzza, who worked on the scheme, said: “We are delighted to have secured this permission with Queensway in collaboration with the City of London Corporation. We look forward to helping in delivering a new hotel in the heart of the City to contribute towards the City’s ‘Destination City’ objectives.”
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