London mixed-use asset granted permission for aparthotel switch

Paul Stevens Paul Stevens Uploaded 24 September 2021

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UK: A mixed-use asset in London has received planning permission for a change of use to an aparthotel with 64 keys.

The asset at 160-170 Cannon Street Road - 'CitE1' - is owned by family-run developer and landlord, S. Bains and Son Ltd, which has substantial commercial and residential holdings in the South East.

Safeguarding the progress of its first aparthotel in development, S. Bains has appointed serviced apartment and aparthotel consultant, Saxbury, to provide full life-cycle development consulting.

Saxbury has now begun its search for an operator for CitE1. London-based architect Aros [which worked on edyn’s Leman Locke Aparthotel] has also been appointed.

Saxbury co-founder Ben Davis said: “We’re inviting master-lease proposals from operators who view CitE1 as an opportunity to rapidly attain scale and presence in London. Whitechapel is a most vibrant quarter of the capital, and London’s fastest emerging sub-market within the city fringe opportunity area and tech city.

"Thankfully, serviced apartment demand has rebounded strongly with higher occupancy compared to hotels. We are thrilled to be bringing yet another aparthotel development into a sector which has never looked in such good shape," he added.

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