Specialist investor developer Key Homes Group has acquired a site at Royal Arsenal Riverside for the development of 130-bedroom mid-market hotel. The site is being developed by Berkeley Homes.
The hotel, which will be located in Woolwich, London SE18, is anticipated to open in Spring of 2013 and will provide 44,605 sq ft of accommodation. It will operate under a well-known brand subject to a forthcoming franchise deal.
Paul Vallone, managing director at Berkeley Homes (Urban Renaissance) said: “The deal with Key Homes Group will enable us to realise our long-standing vision of bringing a quality hotel offering to Royal Arsenal Riverside.
“The scheme has already transformed the riverside in Woolwich into a vibrant and sustainable community, but the addition of a hotel, alongside the forthcoming development of a Tesco Express and the confirmation that Crossrail will also be coming to the site, will elevate the development to a new level.”
DTZ advised Berkeley Homes and Prime London Partners advised Key Homes fund.
