Whitbread has bought 5 Strand, WC2 – once the head office of Landsec – with plans to open a £200m Premier Inn hotel.
The site, just off Trafalgar Square, last changed hands in 2018 for more than £90m, when Indian real estate developer ABIL Group acquired it from the BlackRock UK Property Fund as its first UK deal.
Whitbread said its proposed development, which will have a total investment including construction and related costs of more than £200m, showed its “commitment” to expansion in “the popular London market”.
Pending planning permission, the company hopes the hotel will open in 2027.
The hotel will operate under the Hub by Premier Inn format, launched in 2014 and offering smaller rooms in big cities with higher property prices. It will also include one of the group’s Bar+Block steakhouse restaurants.
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