A joint venture will redevelop Black Lion House, in London’s Whitechapel, into an “extended-stay” hotel.
The joint venture between Union Hanover Securities and Southern Grove bought the 75,000 sq ft office building from CIT for £16m. The hotel will be the first of a planned chain called Urban Villa. Topland Group is providing debt funding. Planning permission remains to be awarded. Portsmouth, Edinburgh and Aberdeen could be locations for further expansion.
06/09/13 Times 51
