Dominvs Group has acquired Citicape House, a site with existing hotel and office planning permission in Holborn, EC1, within the City of London, occupying an area of 0.2 hectares, and benefitting from extremely good transport links.
The current planning permission grants the demolition of the existing building, comprising 82,990 sq ft (7,710 sq m), and erection of a single building totalling 213,481 sq ft (19,833 sq m), which will include 9 storeys for office use and 10 storeys for hotel use. The approved scheme permits a 246-bed hotel, specifically catering for the business and short stay market.
The property is ideally positioned within the Culture Mile, a creative project currently redefining the area as a leader in both commerce and culture. Neighbouring several global businesses including Amazon’s London Office, Goldman Sachs, LEGO Company Corporate Office and Deloitte LLP, Citicape House sits at the heart of a growing corporate hub. Additionally, the arrival of the new Museum of London to West Smithfield poses further regeneration opportunities to this fantastic location.
Preet Ahluwalia, Director of Dominvs Group, commented, “In such a key location within the City of London, the site presented us with the perfect opportunity to add to our growing corporate-focused hotel portfolio.
'We have also recently acquired a hotel in Aldgate and have a Curio by Hilton currently in development at St Paul’s. Other sites in London and across the UK include Tower Bridge, Old Marylebone Road, Hammersmith, Heathrow, Milton Keynes, Bath, Oxford City Centre, York, Glasgow and Aberdeen, totalling to over 3,000 keys nationally.”
With the introduction of the Elizabeth line, Farringdon station will be one of the busiest in the UK, with the line expected to serve around 200 million people each year. Farringdon station, only a 6-minute walk from Citicape House, will provide links with outer London, the home counties, the City, Canary Wharf and three of London’s five airports.