Dominus and Cheyne Capital have secured planning consent to transform a vacant office building in the City of London into a 382-room hotel.
Built between 1935 and 1937, the 250,000 sq ft Ibex House at 42-47 The Minories, is a Grade II listed Art Deco style building located moments from Aldgate, Fenchurch Street and Tower Hill.
Designed by Studio Moren, the plans for the site include more than 50,000 sq ft of public space, a state-of-the-art conference centre with a ballroom, flexible meeting spaces, a new café and the upgrading, reinvention and reopening of the currently closed ‘Peacock’ pub. The hotel is due to open in late 2028 and will be operated by Dominus’s in-house hotel operating platform.
The redevelopment will retain 100% of the building’s substructure and 90% of its superstructure, breathing new life into the Art Deco style building.
Preet Ahluwalia, chief executive officer of Dominus, said: “Drawing on our development and operational expertise, we will transform this vacant office building into a landmark hotel that will celebrate its Art Deco design. Our plans include opening up the ground floor with a pub, café and hospitality academy as part of our commitment to creating exceptional spaces that deliver long-term value.”
Hamish Gordon, director in Cheyne Capital’s real estate group, added: “The plans for Ibex House preserve the character of this landmark building while supporting the City of London’s Destination City ambitions and long-term economic growth. That is why we are pleased to continue our partnership with Dominus on a project that combines heritage restoration with the delivery of a high-quality hotel asset.”
Farran Keenan, senior architect at Studio Moren, said: “This iconic Art Deco building set a benchmark for office design when it was built nearly 80 years ago. While the office space has since become tired and underused, the elegance and enduring appeal of its character remain. Our vision for architecture and interior design places the preservation and celebration of its Art Deco heritage at the heart of its transformation into a contemporary landmark hotel.”
