Real estate and private equity company Dominvs Group has been granted planning permission to develop a 132-bedroom hotel on Ludgate Hill, close to St Paul's Cathedral in the City of London.
Located within the St Paul's Cathedral conservation area, the property will mark the further expansion of the City as a hotel destination following the opening of the Ned, close to the Bank of England, last week, and the Four Seasons Hotel London at Ten Trinity Square earlier this year.
Dominvs will develop and operate the hotel under a yet to be named brand.
The 82,500 sq ft hotel will be developed behind the façade of Creed Court, which will be retained alongside the construction of a part-five and part-seven storey building with three basement levels. An existing retail unit on the ground floor will be retained.
Preet Ahluwalia, hospitality portfolio director of Dominvs Group, which is headed by the Ahluwalia family, said: "We are immensely grateful for the hard work that has gone into this proposal by the design team, planning consultants and the local council. Dominvs Group is committed to developing high quality hotel accommodation, while remaining sensitive to the treasured London locations in which we build."
The Ludgate Hill hotel will become Dominvs' second development in the capital, with work currently underway on the conversion of the former Tower Bridge Magistrates Court into the luxury 200-bedroom the Dixon hotel, which will open in 2019 and operate under Marriott's independent Autograph Collection.
A further hotel is planned for London on a site Dominvs acquired last year on Old Marylebone Road, Westminster.
Last month Dominvs, which currently owns and operates the Crown Plaza and Holiday Inn Express at Aberdeen Airport, sold the 298-bedroom Holiday Inn Manchester City Centre to Starwood Capital Group, off a guide price of £55m.
In 2016 Dominvs said that the sale of the 80-bedroom Holiday Inn Darlington North, 71-bedroom Holiday Inn Dumfries and the 78-bedroom Mercure Sheffield Parkway formed part of a wider strategy to look for new opportunities to grow its portfolio and development pipeline. The company is looking to expand across the UK, following the acquisition of a site in Oxford.
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