Staycity Group has acquired a prime site on Blackfriars Road in London from Swiss Life Asset Management for a new Wilde Aparthotel.
The company intends to build a 25-floor tower on the site, which is a one-minute walk from Southwark Underground station.
The development will comprise studio and one-bed self-catering apartments, a lounge, café bar, shop and co-working area.
Development partner Citygrove will oversee the ground-up project alongside EPR Architects. Construction is scheduled to start in June 2027 with completion anticipated in March 2030, subject to planning consent.
Andrew Fowler, chief development officer at Staycity Group, said: “This is another milestone acquisition for our central London pipeline, bringing in-house development to five London sites with a combined GDV of over £800m as we focus on larger, prime projects. It also marks a strategic entry into Southwark, one of London’s fastest-developing central boroughs.”
JLL advised the vendor.
