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Whitbread has acquired the freehold of 35 Red Lion Square in London for conversion into a hub by Premier Inn Hotel.
The property, which sits in the junction of Theobalds Road, Drake Street and Red Lion Square, was purchased from the Royal College of Anaesthetists for an undisclosed sum.
Set over eight storeys and comprising 47,500 sq ft, the building has been the headquarters of the professional body responsible for the speciality of anaesthesia since 2006.
Whitbread plans to repurpose and adapt the building converting it to a budget hotel of around 150 bedrooms as part of its London growth plan.
The company is committed to expand its presence in the city and it is actively searching for 40 locations for Premier Inn and hub by Premier Inn within the M25.
Hub by Premier Inn hotels are designed for locations in major cities where property prices are relatively high but, thanks to its smaller room format, is able to generate long-term returns whilst providing affordable rooms for guests.
Jonathan Langdon, senior acquisitions manager at Whitbread, said: “Hub by Premier Inn has been a huge success for Whitbread since we launched the brand in 2014. From a standing start we now offer our guests a choice of 18 great locations, 15 of which are in London, and see huge potential for the brand in the years ahead.
“The first site we ever opened was an office-to-hotel conversion on St Martin’s Lane in Covent Garden. We have completed many successful office-to-hotel conversions since, and we intend to bring this experience and track record to the redevelopment of 35 Red Lion Square.”
He added: “Converting buildings that may no longer meet the needs of modern office occupiers into hotels, has enabled us to take the hub by Premier Inn to many of London’s most exciting areas, at the same time as growing our estate in an environmentally conscious way in line with Whitbread’s Force for Good sustainability strategy.
“With 35 Red Lion Square now under Whitbread’s ownership, I’m looking forward to working with the planning team at Camden council on our plans to retrofit and extend the existing building, and ultimately channel the wider benefits of a hotel in this location to the local community.”
