Construction work has begun on the new 80-bedroom boutique hotel in the City of London, to be leased to restaurant operator D&D London.
South Place Hotel, behind Finsbury Circus, is due to be completed in summer 2012 in time for the London Olympics.
It will be the first hotel to be operated by D&D London. Frogmore, the UK property fund management specialist, is developing the property, with the construction by McLaren. Conran and Partners, owned by D&D London's majority shareholder, Conran Holdings, is designing the interior.
Des Gunewardena, chairman and chief executive of D&D London, said that having spent so much time planning and designing the hotel, it is exciting to see something tangible.
"David Loewi (managing director) and I are looking forward hugely to the opening of South Place as it is D&D's first hotel development," he said. "The fact that schemes like South Place are happening is a sign of long term business confidence in the City."
The 72,000sqft hotel will include a number of restaurants, bars and private dining facilities.
By Janet Harmer
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