RCS - PPHE Hotel Grp Ltd - Planning approval for new development in London

PPHE HotelAnnouncement

13/08/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240813:nRSM1613Aa&default-theme=true

RNS Number : 1613A  PPHE Hotel Group Limited  13 August 2024

 

 

13 August 2024

 

PPHE Hotel Group Limited

("PPHE" or the "Group")

 

Planning approval for new 186-bedroom mixed-use hotel-led development in
Central London

 

 

PPHE Hotel Group, the international hospitality real estate group which
develops, owns and operates hotels and resorts, is pleased to announce that
following the successful conclusion of a recent public inquiry it has been
granted planning permission for a mixed-use hotel-led development in London's
vibrant South Bank area.

 

Under the approved plans, PPHE will bring a novel 15-storey design-led
mid-scale concept to the market comprising up to 186 rooms as well as two
floors of office and light industrial floorspace, activated by a flexible use
ground floor public space featuring an all-day dining bar and cafe. The
building's design will focus heavily on sustainability, transforming a former
brownfield site, and targeting a BREEAM 'Excellent' environmental
accreditation.

 

The development site is located on Westminster Bridge Road opposite Lambeth
North Station with easy access to London's most iconic landmarks, cultural
spots (including historic Lower Marsh Street) and nearby transport links. It
will be PPHE's fifth hotel in the vibrant Waterloo area, popular with tourists
and corporates alike.

 

PPHE purchased the site for £12m in 2019 and it is currently working on
detailed designs for the project. Further updates on the planned investment
and timings will be provided in due course.

 

The plans reflect PPHE's strong track record of creating stakeholder value
through its 'buy, build, operate' business model as well as its commitment to
expanding its presence in London.

 

Boris Ivesha, President and Chief Executive Officer, PPHE Hotel Group
commented:

"We are delighted to have been granted approval to execute our plans to create
a mixed-use development at 79-87 Westminster Bridge Road. The development will
combine lifestyle hotel rooms with welcoming office, leisure and creative
spaces for the benefit of the entire community. This is a hugely exciting
project for the Group, located close to some of London's most exciting
landmarks.  This development will further enhance the Group's strong presence
on London's South Bank and add to our high quality, well-located London
portfolio which will increase to 3,900 rooms as a result.

We look forward to beginning work on the project and updating stakeholders in
due course."

 

 

- Ends -

 

Enquiries:

 

 PPHE Hotel Group Limited                                      Tel: +31 (0)20 717 8600
 Daniel Kos, Chief Financial Officer & Executive Director
 Robert Henke, Executive Vice President of Commercial Affairs
 Hudson Sandler                                                Tel: +44 (0)20 7796 4133
 Wendy Baker / Lucy Wollam / India Laidlaw                     pphe@hudsonsandler.com (mailto:pphe@hudsonsandler.com)

 

Notes to Editors:

 

PPHE Hotel Group is an international hospitality real estate company, with a
£2.2 billion portfolio, valued as at December 2023 by Savills and Zagreb
nekretnine Ltd (ZANE), of primarily prime freehold and long leasehold assets
in Europe.

 

Through its subsidiaries, jointly controlled entities and associates it owns,
co-owns, develops, leases, operates and franchises hospitality real estate.
Its portfolio includes full-service upscale, upper upscale and lifestyle
hotels in major gateway cities and regional centres, as well as hotel, resort
and campsite properties in select resort destinations. The Group's strategy is
to grow its portfolio of core upper upscale city centre hotels, leisure and
outdoor hospitality and hospitality management platform.

 

PPHE Hotel Group benefits from having an exclusive and perpetual licence from
the Radisson Hotel Group, one of the world's largest hotel groups, to develop
and operate Park Plaza® branded hotels and resorts in Europe, the Middle East
and Africa. In addition, PPHE Hotel Group wholly owns, and operates under, the
art'otel® brand and its Croatian subsidiary owns, and operates under, the
Arena Hotels & Apartments® and Arena Campsites® brands.

 

PPHE Hotel Group is a Guernsey registered company with shares listed on the
London Stock Exchange. PPHE Hotel Group also holds a controlling ownership
interest in Arena Hospitality Group, whose shares are listed on the Prime
market of the Zagreb Stock Exchange.

 

Company websites: www.pphe.com (http://www.pphe.com) |
www.arenahospitalitygroup.com (http://www.arenahospitalitygroup.com)

 

For reservations:

www.parkplaza.com (http://www.parkplaza.com) | www.artotel.com
(http://www.artotel.com) | www.radissonhotels.com
(http://www.radissonhotels.com) | www.arenahotels.com
(http://www.arenahotels.com) | www.arenacampsites.com
(http://www.arenacampsites.com)

 

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAKLLFFZVLZBBL