Operator search imminent for London aparthotel

George Sell George Sell Uploaded 25 June 2019

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UK: The MRP Group and Saxbury will jointly conduct an operator search for a 93-unit aparthotel in London's Whitechapel.

MRP and Saxbury are consulting with Glenwell Group, the new owner of 92 Middlesex Street, regarding its potential for redevelopment.

Situated on the edge of the City of London, 92 Middlesex Street has recently obtained C1 planning approval and will soon be redeveloped to provide around 93 units, with associated amenity space for efficient aparthotel operations.

"This is a fantastic opportunity for operators to expand their portfolio in central London," said Max Thorne, CEO, MRP Group. "The property is in a prominent location, with historically strong occupancy rates. Having undertaken operator searches and investment sales for nearby sites, we are confident that the potential for this property is exceptional."

"The aparthotel and serviced apartment sector in the UK is growing rapidly, as both business and leisure travellers recognise the benefits over hotels", said Ben Davis, director of Saxbury. "We are confident there will be robust operator demand for this opportunity."

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