Realty plans Chelsea hotel
Realty Estates has revealed plans for a new 76-bedroom hotel behind Chelsea FC’s Stamford Bridge stadium on the Fulham Road, SW6.
The Manchester-based developer submitted plans this week through its subsidiary Blakehampton Business Services to demolish the existing 43-bedroom La Reserve hotel and build a three-star hotel at 422-428 Fulham Road.
The new hotel would be built and operated by Realty and has an estimated end value of £20m.
[caption id="attachment_868940" align="alignnone" width="570"] Realty Estates’ Fulham Road hotel[/caption]
Realty Estates has revealed plans for a new 76-bedroom hotel behind Chelsea FC’s Stamford Bridge stadium on the Fulham Road, SW6.
The Manchester-based developer submitted plans this week through its subsidiary Blakehampton Business Services to demolish the existing 43-bedroom La Reserve hotel and build a three-star hotel at 422-428 Fulham Road.
The new hotel would be built and operated by Realty and has an estimated end value of £20m.
There is a shortage of hotel stock in Chelsea, and development has slowed in recent years owing to increased land and site prices. Many buildings in the area are Grade I listed, which poses another hurdle.
However, there are still opportunities. Heythrop College in Kensington Square, W8, is on the market for £100m as a redevelopment opportunity and has already attracted the attention of hotel developers.
Realty, which owns a portfolio of offices, hotels and car parks in Manchester, bought La Reserve in 1995, its only holding in London. In October, it opened a 10-storey La Reserve aparthotel in Manchester’s Piccadilly.
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