UK: Union Hanover has been given planning consent for its Penny Brook development in Stratford, which includes 137 Aparthotels Adagio serviced apartments.
The £126 million development in Stratford City, East Village,
E20, includes the 249-bed Penny Brook hotel as well as the
Eric Jafari, managing director of Union Hanover Securities, said: "The unanimous backing of the London Legacy Development Corporation shows that they are as committed as we are to adding a new element of character to the Stratford masterplan. The planners share our vision of creating a leisure-led cultural quarter, underpinned by the unique essence of our hotel. We will seek to appeal to Millennials who embrace the 'anti-brand' experience."
The 137 Adagio units are split between 95 studios and 42 one-bedroom apartments and are designed to brand standards and archetypal layouts.
Tower8 has been appointed as the project manager and work is expected to begin on site by early autumn.
Tower8 director Adam Mursal said: "The dual-operator development represents an exciting, New York-born solution to a challenging plot in an area of London that is continuing the momentum of the Olympic legacy. The team has been brave enough to utilise ambitious architectural designs to deliver a new 'living room' for Stratford. In a construction market where contractors are being more conscientious about the projects they are opting to tender for, a scheme like this should really whet the appetite."