The City of London Corporation looks set to approve a £116.7m office-to-hotel scheme in the heart of the capital’s financial district.
Austria’s Ploberger Hotel Group wants to demolish Boundary House at 7-17 Jewry Street, EC3, and replace it with a 311-bedroom luxury hotel including a rooftop restaurant.
The part-14-storey, part-six-storey development would retain some office space on the ground and first floors. The existing building comprises 45,000 sq ft of office space across its eight storeys.
Ploberger owns two hotels in Austria and the Czech Republic and has consent to redevelop the Grade II listed Bow Street Magistrates’ Court and Police Station in the West End as a 100-bedroom hotel. The company bought the Jewry Street site from GR Properties in early 2021 for £30.9m. The proposed hotel scheme has a GDV of £116.7m.
Planning officers at the City of London Corporation, who have recommended the scheme for approval, said in their report: “It is considered that the loss of office floorspace, and the proposed hotel use, with a small quantum of office floorspace, would not compromise the primary business function of the City, with hotels supported as a strategic function of the Central Activities Zone and the London Plan stating that 58,000 rooms for serviced accommodation will be required in London by 2041.”
They added: “The hotel would contribute to the balance and mix of uses in the area and would offer complementary facilities to be accessed by the public.”
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