Union Hanover Securities has gained planning approval for a £126m dual hotel scheme at Stratford City in East London, with work is set to start on site this Autumn.
One hotel will be a 137-bedroom Adagio aparthotel; the other a 249-bedroom boutique hotel to be named the Penny Brook Hotel.
The Penny Brook Hotel will be a 25-storey tower and will include a large ground floor restaurant and cafe area along with conference space. The tower will also feature a top floor restaurant and lounge.
The Adagio aparthotel will include 95 studio apartments and 42 one-bedroom apartments.
Eric Jafari, Managing Director, commented, “It is apparent to anyone paying attention to trends that East Village is London's next rising star. It boasts excellent transport links, huge retail footfall, the millions of square feet of office space under development and museums and other visitor attractions to come.
'The only thing missing is a destination boutique hotel anchored by a collection of best of breed food and beverage operators to serve both the local and tourist market.
'It is our aspiration for The Penny Brook to serve as the cultural quarter/social hub for East Village. We’ll seek to appeal to Millennials who embrace the ‘anti-brand’ experience.’'