GMG Real Estate and U Developments’ proposals for a new mixed-use hotel and offices development in the heart of Clerkenwell, EC1, have been unanimously approved by Camden Council.
The scheme, on Vine Hill and Eyre Street, will comprise a 146-bedroom, eight-storey hotel, as well as 20,000 sq ft of refurbished offices with a three-storey extension, and nine affordable flats.
GMG Real Estate owns the site; U Developments is its development manager.
It is understood that a hotel operator has already signed a lease agreement for the new-build hotel. Meanwhile, the office space consists of a former 19th-century Ragged School building, which is currently still in use but are in bad repair.
U Developments plans to uplift these to a higher grade, aimed at the technology, media and fintech sectors. JLL is marketing the offices for prelet.
The development is slated to begin construction by the end of the year, and is expected to complete in spring 2021.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
