Maya Capital LLP and Veld Capital have received planning approval from Southwark Council’s planning committee for their revised proposals for a new hotel development at 160 Blackfriars Road in London.
The partners acquired the site in October 2021 and plan to deliver a new 222-bed hotel close to the South Bank, which will be operated on a long-term, triple net lease basis by hotelier Motel One. The new hotel will target a BREEAM Outstanding and EPC A rating and offer affordable workspace and a wide range of amenities.
David Pralong, managing partner of Maya Capital, said: “The approval by Southwark’s planning committee is an important milestone for our project. We are looking forward to delivering a high-quality sustainable scheme. Maya and Veld will continue to work closely with Southwark Council and local stakeholders to deliver this exciting mixed-use scheme.”
Construction is expected to start in Q2 this year with completion targeted for H2 2025.
