Dominus gets funding for City office-to-hotel conversion
Dominus has secured funding from Virgin Money to support the development and operation of a new 237-bedroom hotel in the City of London.
Located at 5-10 Great Tower Street, EC3, the redevelopment will see the former NatWest office transformed into a Curio Collection hotel by Hilton. Dominus received planning permission for the hotel in June last year.
This new project represents the third London hotel development by Dominus backed by Virgin Money, and the seventh collaboration between the two companies.
Dominus has secured funding from Virgin Money to support the development and operation of a new 237-bedroom hotel in the City of London.
Located at 5-10 Great Tower Street, EC3, the redevelopment will see the former NatWest office transformed into a Curio Collection hotel by Hilton. Dominus received planning permission for the hotel in June last year.
This new project represents the third London hotel development by Dominus backed by Virgin Money, and the seventh collaboration between the two companies.
Their previous joint ventures include Lost Property, St Paul’s, also part of Hilton’s Curio, and the Dixon, Tower Bridge, part of Marriott’s Autograph.
Dominus plans to retain and enhance the existing building, collaborating with Studio Moren to develop designs that maintain the entire substructure and 70% of the superstructure and facade.
The project will focus on reducing embodied carbon by reusing materials and the company is aiming for BREEAM Excellent certification.
Sahil Khagram, investment director at Dominus, said: “This funding supports our strategy of acquiring office buildings that are no longer fit for purpose, obtaining planning permission and carrying out sustainable developments in the living sector.
“We are excited to bring our next hotel project forward and add to our portfolio as owner operators.”
Image © Studio Moren/Dominus
