The Reuben Brothers and Park Plaza have submitted revised Squire & Partners-designed plans for a 22-storey Art’otel at 84-86 Great Eastern Street and 1-3 Rivington Street in Hoxton, EC2.
The 346-bedroom hotel, which includes a private members club, art gallery, cinema, shops and restaurants, revises an 18-storey tower 2010 scheme.
The Art’otel concept involves individually themed boutique hotels which pay homage to a modern artist.
The joint venture was originally signed in 2008 when Park Plaza, which owns and operates four-star hotels in Europe and the Middle East, bought a 50% stake in the special-purpose vehicle which owns the site.
It paid around £3m for half of the shares in site owner Aspirations, a subsidiary of the Reuben’s property vehicle Aldgersgate Investments, and advanced an £8m loan. Park Plaza will operate the hotel.
