Main Photo: The site at Vauxhall – imagined
Date: October 2019
Location: Albert Embankment, “South of the River”, London, UK
Name: TBA…one of the Dalata brands
No. of Keys: 600
Seller: The site is currently a Texaco petrol station, together with an adjacent office building!
Buyer: Proposals to build a 600-bedroom, mid-market hotel in London’s Vauxhall have been submitted to Lambeth Council.
The plans would see the Texaco petrol station on Albert Embankment demolished and a 24-storey hotel with a bar and restaurant constructed at the site. A property development company submitted the proposals to Lambeth Council this week.
The hotel is described as “design-led, yet affordable” with rooms on average 16 sq m, and is said to contribute towards the 2016 London Plan’s strategic target of 40,000 net additional hotel rooms by 2036, of which 10% should be affordable.
The site originally gained planning consent for redevelopment for residential use in 2017, however the developer marketed the site extensively for over two years but received limited interest due to the significant existing supply of new housing in the vicinity of the Albert Embankment. In contrast, the documents suggest there is a “high level of interest” from “a number of hotel operators”.
The two Victorian warehouse buildings known as Vintage House are proposed to be retained and refurbished for use as office space.
The property would join Albert Embankment hotels including the Crowne Plaza London – Embankment and the Park Plaza London Riverbank. Planning permission is also being sought to redevelop 8 Albert Embankment, including the former London Fire Brigade headquarters, to build a 200-bedroom hotel with a rooftop restaurant and bar.
THPT Comment: London has an irrational “downer” on “South of the River” given on the other side is the Houses of Parliament – OK in recent times one can understand! Slowly but surely the area comprising Vauxhall, Lambeth and Waterloo is gaining in popularity for hotels. THPT is in touch with the developer as to the opportunity for hoteliers.
First Seen: The Caterer
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.