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The City of London Corporation has granted planning permission to Dominus and Cheyne Capital to convert a vacant 250,000 sq ft office building into a hotel.
Ibex House, a Grade II-listed building in The Minories, will be transformed into a 382-room site. The project will retain 100% of the building’s substructure and 90% of its superstructure.
The joint venture, which completed the acquisition of the 1930s Art Deco building in December 2025, expects the hotel to open in late 2028. Dominus will manage the site.
Plans for the development include a conference centre, ballroom, meeting spaces, and a café. The scheme also involves the reopening and expansion of the currently closed Peacock pub.
The developers intend to establish an on-site hospitality academy on the ground floor. This initiative, in partnership with The Springboard Charity, will provide training and employment for local residents.
The hotel is expected to employ more than 160 people once operational. The project follows a previous partnership between the two firms at 65 Fleet Street.
Chief executive Preet Ahluwalia said: “Drawing on our development and operational expertise, we will transform this vacant office building into a landmark hotel that will celebrate its Art Deco design.”
Director Hamish Gordon added: “The plans for Ibex House preserve the character of this landmark building while supporting the City of London’s Destination City ambitions and long-term economic growth.That is why we are pleased to continue our partnership with Dominus on a project that combines heritage restoration with the delivery of a high-quality hotel asset.”
Senior architect Farran Keenan said: “This iconic Art Deco building set a benchmark for office design when it was built nearly 80 years ago. While the office space has since become tired and underused, the elegance and enduring appeal of its character remain. Our vision for architecture and interior design places the preservation and celebration of its Art Deco heritage at the heart of its transformation into a contemporary landmark hotel.”
