City ID, the fast-growing Dutch apartment hotel group, with shareholders APG and Australia's Aware Super, has acquired a prime development site in Central London's Victoria district to build a new location for their brand in the heart of London. The move forms are part of a wider acquisition strategy which will see City ID invest more than 1 billion euros over the next five years to increase its apartment hotel portfolio in London and across other major European cities.
The new property will be centrally located, only a 5-minute walk from Victoria Station. The location is an ideal base for locals and travellers - whether they are staying for business or pleasure. The project will collaborate with local design teams, suppliers and construction companies to create incredible spaces inspired by the surrounding environment, contributing to Victoria’s transformation. The hotel will create hybrid spaces for guests, foodies, local residents and neighbouring business workers. The entire project shares City ID’s values for sustainability and well-being.
The property will feature 116 generous apartments (studios, 1 bedroom and 2 bedrooms), a flexible workspace, a seasonal restaurant and bar with low volume consious supplies, as well as a gym and wellness areas. The property is expected to open its doors in 2024.
Alexander Goad, Chief Executive Officer at City ID, said: “We are very happy to create a fantastic new City ID locationfor our guests and local residents in this central location in one of London's most vibrant and culturally rich areas. We hope ourspaces inspire, provoke and enrich our guests and provide a platform for those looking for short or long termaccommodation. We are excited by the journey ahead and the ability to provide a new level of accommodation across Europetogether with our shareholders APG and Aware Super over the coming years. Beginning in London, the first of many!”
Robert-Jan Foortse, Head of European Property Investments at APG, said: “We are very pleased to see the first City ID overseas acquisition become reality. We are looking forward to significantly accelerating the company’s international growth programme in the coming years.”
Alek Misev, Senior Portfolio Manager - Property at Aware Super, said: “This project is the start of a significant period of growth and expansion for the City ID portfolio and increases our exposure to the rapidly expanding European aparthotel sector. Through developments like this, we continue to deliver on our commitment to do well for our members through top long-term performance, while doing good in the community."