Wednesday, 25 February 2015
Union Hanover submits €136.5 mln plans for an Adagio and Boutique Hotel scheme in Stratford (UK)
Union Hanover Securities has submitted its planning application for a £100 mln (approx. €136.5 mln) plus dual hotel scheme at Stratford City, East Village E20.
The New York-based Grzywinski + Pons Architects-designed Penny Brook development consists of a 137-bed Adagio and a 249-bed destination boutique hotel called the Penny Brook. The scheme includes a 530 m² ground floor restaurant, a 110 m² ground floor café, 1270 m² of conference space, a 276 m² top floor restaurant and a 276 m² top floor lounge.
Union Hanover is in discussions with a number of different exciting food and beverage operators in line with it's objectives to forge London's next hot spot.
Eric Jafari, Managing Director of Union Hanover Securities said: “It is apparent to anyone paying attention to trends that East Village is London's next rising star. It boasts excellent transport links, huge retail footfall, the millions of square feet of office space under development and museums and other visitor attractions to come. The only thing missing is a destination boutique hotel anchored by a collection of best of breed food and beverage operators to serve both the local and tourist market. It is our aspiration for The Penny Brook to serve as the cultural quarter/social hub for East Village. The Adagio transaction has allowed us to finance a destination hotel on a lowly leveraged basis.”
The Penny Brook Hotel which forms a 25-storey tower with elegant recessed facades is arranged so the 249 guest rooms have been planned to optimize daylight and sunlight. There are four principle room types which are found from floor six through to floor 22. The 137 guest rooms of the Adagio aparthotel are split between 95 studios and 42 one beds and are designed to brand standards and archetypal layouts.