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The Portobello Trust has brought to market a development opportunity for an aparthotel in Chiswick London for an unspecified asking price.
The development site currently comprises six, three-storey buildings and benefits from an existing detailed planning consent to be developed into a five-storey mixed use building.
Subject to the necessary planning consents, there is potential to change the consented scheme to a 118 unit aparthotel scheme or hotel.
There is scope to increase the bedroom count and reconfigure the public areas depending on the specification required by the operator.
Three quarters of the rooms are open-plan one-bedroom suites, while the other quarter of rooms are studio apartments.
Patrick Ruddy, director of Portobello Trust, said: “Portobello Trust has a track record of delivering mixed use schemes in London’s Prime Villages. Chiswick presents an opportunity to acquire an asset that benefits from a substantial planning consent, suited to a variety of uses.
“The development will complete the regeneration of the micro-location, delivering high quality and sustainable new build property along with an enhanced public realm in close proximity to Chiswick Park Station and Turnham Green.”
Adam Lowenthal, director of Aparthotel Investments at Saxbury who are jointly running the sale, added: “We are very excited about this potential aparthotel scheme in Chiswick as we have seen a lack of supply of legitimate short-term accommodation in this area. This is in spite of the high level of demand coming from corporates at Chiswick Business Park and along the Golden Mile.”
