Scottish-owned hotel chain Apex has unveiled £60m plans to develop a four-star hotel in an historical area just off Fleet Street, London, after acquiring a long lease on one of the area's buildings.
The group has acquired the 100,000sq ft building next to the Palace of Justice from the Honourable Society of the Inner Temple.
Subject to planning permission, Apex intends to develop the property into a 175-room hotel aimed at the business traveller. Project completion is set for December 2009.
Apex's executive chairman, Norman Springford, told Caterersearch: "We are delighted to be given the opportunity in such a prestigious area. We hope the style of the product will further enhance the Apex brand."
The group is currently developing a £100m project to develop their existing hotel in the City near Tower Bridge, adding a further 49 rooms.
Apex also has projects near the Bank of England in London and in Edinburgh. It hopes to more than double its room count in the next 18 months.
By Gemma Sharkey
E-mail your comments to Gemma Sharkey here.