The office block at 15 Dacre Street, SW1, has been sold off-market for a hotel conversion.
Whitbread has paid £25.5m to an Irish vendor for the 35,000 sq ft block. A 135-bedroom hotel is planned.
A spokesman for Whitbread said: “This is all part of the strategy for acquiring and opening sites for the new hub by Premier Inn format in key city centre locations and fitting in with the format’s ‘connected to the heart of the city’ approach.”
Mark Fisher, managing director, investment & development agency at Victoria specialist Tuckerman, said: “We certainly welcome the increase in quality hotel development in the Victoria and Westminster area. The loss of commercial is not ideal for the office supply but the additional amenity that the hotels bring is important, especially given the quantity of new corporates arriving in Victoria which need accommodation for their staff.”
