Major London-Holborn Hotel Development Opportunity Hits Market
Name: Citicape House, 65 Holborn Viaduct
Guide Price: TBA
No. of Keys: 382
The Opportunity: Dominvs Group has brought to market a major hotel/office development opportunity in Holborn in London’s Midtown, according to CoStar News. The 0.53-acre 65 Holborn Viaduct site sits prominently on the north side of Holborn Viaduct and has existing planning consent for a 207,754 sq ft mixed-use scheme, anchored by a 382-key hotel, with 32,464 sq ft (NIA) of workspace and both a ‘Skybar’ and a public rooftop viewing gallery with views across central London.
Alternatively, the site has potential for an headquarters office scheme, comprising over 181,000 sq ft across lower ground, ground and nine upper floors. The City of London Corporation’s Planning and Transportation Committee consented the hotel-led plan in January saying it would be the greenest building in the capital to date.
The 11-storey mixed-use development proposes a façade covered in a 3,700 sq m “green wall” expected to be the largest in Europe. The site is adjacent to Smithfield market, part of which is soon to become a major cultural attraction with the development of the new £330m Museum of London.
Cocktails on the roof
Nearby occupiers include Amazon next door and Goldman Sachs’ new 840,000 sq ft European headquarters at Plumtree Court directly to the south-west. Farringdon Station – where the London Underground, Thameslink and Crossrail will combine services in 2022 – is five minutes’ walk away.
Dominvs Group has decided to sell the site due to the number of unofficial approaches the group has received from interested purchasers over the summer, it said. “The Holborn site provides an outstanding opportunity for a headquarters office building or hotel, but our strategy is to diversify into the residential and student market over the next five years.”
The group’s future focus will include seeking real estate opportunities beyond its London heartland and looking at private residential, student, build-to-rent and joint venture opportunities around the UK.
Main Photo: The Building as envisaged as a hotel