Whitbread has put the freehold interest in New London House at 6 London Street in the City of London up for sale.
The hospitality business acquired the 89,722 sq ft office, retail and restaurant building from clients of Orchard Street Investment Management for £56.5m in 2023 and secured change of use planning consent for a 422-key hotel in July this year.
The building, which was developed in the 1970s and comprises a podium and tower structure, is located adjacent to Fenchurch Street station in the heart of the financial district.
A Whitbread spokesperson said: “Whitbread constantly reviews how it allocates capital across its property portfolio. Following a detailed review of the economics of developing the site into a budget hotel, we have decided to market New London House for sale and recycle capital into other growth opportunities across the business. We remain confident in the long-term potential of the site as a hotel development and in the Central London hotel market where we still see significant opportunities for growth.”
