Citygrove and Bridges Fund Management have acquired a consented hotel site in Nine Elms from Staycity Group.
Staycity has agreed a leaseback for its premium Wilde aparthotel brand, and plans are underway for a 185-room hotel in Vauxhall. Located near the US Embassy and transport hubs, the hotel aims to meet demand from tourists and business travellers, in line with London’s status as a leading global city.
It is the first deal for the new Bridges–Citygrove partnership, which focuses on sustainable real estate in prime urban areas. Citygrove will develop the scheme over the next two years.
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