Whitbread has secured
planning permission for a 294-bedroom hub by Premier Inn hotel at
191 Old Marylebone Road in Marylebone, London NW1.
Granted late last month by
LB Westminster, the decision unlocks a major
redevelopment of a site that Whitbread purchased freehold in 2016.
191 Marylebone Road is just a few minutes’ walk from both
Marylebone and Paddington mainline stations and adds another Zone
1 hotel into Whitbread’s expanding portfolio.
The new hub by Premier Inn at Marylebone is expected to open in
2021, generating approximately 60 new jobs.
There are currently
seven hub by Premier Inn hotels open and trading in London with a
further seven in planning or construction.
Development Manager for Whitbread, said, “We’re investing in
building our hub by Premier Inn brand across London and this site
in Marylebone where two transport hubs meet is the ideal location.
This project demonstrates Whitbread’s capability to deliver on
effective real estate deals, purchasing assets freehold and
securing hotel consents. The flexibility to do the right deal for
the best sites is what marks Whitbread out and 191 Old Marylebone
Road is an excellent example of this approach in action.”
Marylebone Road is a former 54,000 sq ft office building which
Whitbread purchased (freehold) for Ł31.25m with vacant possession.
Whitbread will regenerate the site for a 13-storey hotel with
a ground floor café in line with the hub by Premier Inn brand.
Derek Griffin, Head of Acquisitions – London and South & East
England for Whitbread, said, “Whitbread’s property strategy
enables the business to invest in both freehold and leasehold
sites in order to secure the best locations and the best returns
on capital invested. The 191 Old Marylebone Road scheme is a prime
example of Whitbread identifying a location, taking informed
planning risk on a change of use, and bringing an excellent new
site into the operational hub by Premier Inn portfolio.”
In its last
financial year, Whitbread secured deals for 31 new Premier Inn and
hub by Premier Inn hotels across the UK, contributing a further
4,300 rooms to the secured development pipeline. In its
Preliminary results presentation on 25 April 2018, the business
confirmed it has more than 14,700 Premier Inn and hub by Premier
Inn bedrooms in its committed pipeline and expects to achieve its
target of 85,000 bedrooms by 2020.
Two new hub by Premier Inn
hotels are scheduled to open in central London during the
financial year 2018/19, one at Berwick Street, Soho and the other at Bank in the
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