Endurance Land has been awarded planning permission for a 291-bed hotel to be operated by Motel One in the City of London.
City officials approved plans for a comprehensive redevelopment of the 24-26 Minories, EC3, site to provide around 110,000 sq ft of new space over a part seven- and part 16-storey building.
The existing five-storey block is due to be demolished in Q4 this year, with construction due to commence at the beginning of 2013.
Scottish Widows is helping to fund the scheme.
Endurance Land managing director Jonathan Fletcher said: “We are delighted to have achieved this enhanced planning consent and look forward to working with our tenant, Motel One, to produce a first-class hotel product.”
BNP Paribas acted for Endurance Land; SWIP advised on planning.
jack.sidders@estatesgazette.com
