Located at 27 Poultry, a Grade I-listed building which once housed the headquarters of the Midland Bank in the City of London, the hotel is being created by Soho House & Co in partnership with US hotel owner and developer Sydell Group.
The hotel's design, which is being undertaken by Soho House & Co's in-house team, headed by co lead designer Adam Greco, will channel the mood of the 1920s and 1930s.
Architect Sir Edwin Lutyens originally designed the Portland stone building in 1924. Ned was the nickname of Sir Edwin, who was also responsible for the Cenotaph in London and the British Embassy in Washington.
The main hub of the hotel will be the former grand banking hall, which will feature seven restaurants including Cecconi's City of London, serving Italian inspired dishes; Pen Yen, a Japanese grill; Penny, an American café; Millie's Lounge, serving British and American classics 24 hours a day; Café Sou, a Parisian outlet; the Grill Room offering traditional trolley and geridon service; and Zobler's, a New-York-style deli.
The bedrooms will be categorised as small, medium, large and big and designed to represent the hierarchy of a 1930s bank. Brass and mahogany furniture, chandeliers, richly patterned furnishings, hand-knotted Afghan rugs and rain forest showers will abound. Bespoke wallpapers are being created by the Anstey Wallpaper Company in Loughborough.
Guests at the Ned gives will be give temporary membership to Ned's Club, split between the basement and the roof top.
Ned's Club Downstairs will host Ned Club Active (gym, boxing ring and studio for Pilates, yoga and spinning classes) and Ned's Club Relax with a swimming pool, hamam, sauna, steam room and Cowshed Spa featuring eight treatment rooms. There will also be the Vault Room lounge bar, which will retain the original stainless steel, engraved safety deposit boxes, and two-metre-wide door. Meanwhile, Ned's Club Upstairs will have an outdoor pool on the rooftop, Canopy bar, and two domes for eating and drinking.
The six private event spaces include the Tapestry Room, which is cloaked in a tapestry which features coats of arms from 120 UK towns and cities and was the largest in England when installed in 1932.
The Ned has just started the process of recruiting for a team of 800 staff. Gareth Banner, managing director, said that as well as taking on employees in typical hotel roles, such as receptionist and housekeepers, he is also looking for people in a wide range of specialist positions ranging from a nail bar technician to a graphic designer and boxing coach.
"When it comes to staff, arguably the Ned will be the most encompassing hotel team in London - every position will be employed in-house," he explained.