Staycity to invest £40m in Stratford aparthotel
Aparthotel operator Staycity Group has acquired a 0.06-hectare site in London's Stratford for the development of a 240-apartment Staycity aparthotel, due to open in the second half of 2026.
The project, representing an investment of £40m for the purchase, planning and construction, is to be developed by Staycity's property development arm and will comprise 240 studio and one-bed apartments with facilities including workstations, a gym, café, bar, lounge, guest laundry and shop. The development is expected to attract a guest profile split of 60:40 leisure/business.
Staycity will look to forward fund the investment once planning consent is secured, taking an operating lease back. The company purchased a long leasehold of the land from a private vendor, represented by Savills. The freehold of the site is owned by shopping centre owner and developer Unibail-Rodamco-Westfield.
Neil Short, Staycity Group's development director – London, said: "We have long admired Stratford and seen it steadily improve since its Olympic reinvigoration, The location is fantastic with excellent links by train and tube, including to the Eurostar and Europe beyond. We look forward to playing a part in Stratford's outstanding growth story."
Staycity Group was founded in Dublin in 2004 by chief executive Tom Walsh and his brother Ger. The business now operates nearly 6,000 apartments across 32 properties in France, Germany, Ireland, Italy and the UK. Future openings are planned for London, Paris, Munich, Amsterdam, Lisbon, Porto and Cambridge with a target of more than 15,000 apartments by 2028.
The group has six properties in London - in Aldgate, Covent Garden, Deptford, Greenwich, Heathrow and Paddington - operating under the Staycity and Wilde brands, as well as a further Wilde under construction in Middlesex Street, near Liverpool Street station, due to open later this year.
