Whitbread has acquired the freehold of 35 Red Lion Square in London with a view to converting it into a 150-bedroom hub by Premier Inn hotel.
The eight-storey property, which is located on the junction of Theobalds Road, Drake Street and Red Lion Square, was purchased from the Royal College of Anaesthetists (RCoA) for an undisclosed sum. The 47,500 sq ft building has been the headquarters of the RCoA since 2006.
Jonathan Langdon, senior acquisitions manager at Whitbread, said: “hub by Premier Inn has been a huge success for Whitbread since we launched the brand in 2014. From a standing start we now offer our guests a choice of 18 great locations, 15 of which are in London, and see huge potential for the brand in the years ahead.
“The first site we ever opened was an office-to-hotel conversion on St Martin’s Lane in Covent Garden. We have completed many successful office-to-hotel conversions since, and we intend to bring this experience and track record to the redevelopment of 35 Red Lion Square.
“Converting buildings that may no longer meet the needs of modern office occupiers into hotels, has enabled us to take hub by Premier Inn to many of London’s most exciting areas, at the same time as growing our estate in an environmentally conscious way in line with Whitbread’s Force for Good sustainability strategy.
“With 35 Red Lion Square now under Whitbread’s ownership, I’m looking forward to working with the planning team at Camden Council on our plans to retrofit and extend the existing building, and ultimately channel the wider benefits of a hotel in this location to the local community.”
Whitbread was advised on the acquisition of 35 Red Lion Square by Frame Real Estate Partners and the RCoA was advised by Newmark.
