Staycity has announced plans for a 106-room site in London's Covent Garden.
The serviced apartment operator has signed a 35-year lease on a building on the Strand which will be converted to 106 studio apartments and open in December 2015.
The apartments will be the first of a new Staycity brand planned for premium city centre locations. They will be designed by Heneghan Peng Architects, who have worked on the Grand Egyptian Museum in Egypt and the School of Architecture in Greenwich, London.
Staycity chief executive Tom Walsh said: "Covent Garden will be an exciting place for Staycity to operate. It's a location surrounded by four- and five-star hotels so the aim is to give our guests the eye-catching, cutting-edge feel of a top-end hotel, while offering the fantastic value-for-money of a serviced apartment.
Staycity said it is on target to expand to 5,000 apartments in the next five years. It currently has 1,000 apartments in cities including Birmingham, Dublin, Edinburgh and Liverpool.