Wilde Aparthotel Holborn Viaduct
Penta Real Estate and Staycity Group Establish £230m+ Joint Venture to Deliver 350-Room Wilde Aparthotel in Central London
A £230+ million joint venture (JV) between leading Central European developer and investor Penta Real Estate and aparthotel operator Staycity Group has been established to fund the delivery of a new 350-room aparthotel in Farringdon.
The JV will be split 80:20, with Penta Real Estate the majority shareholder, and follows the firm's £1 billion JV with Ballymore, which will fund the delivery of over 1,000 new homes in London across three locations.
This development will represent Staycity Group's seventh site in the capital, building on its existing portfolio of c.£700M Gross Development Value (GDV) of hotels under development in London.
The project will reimagine the Morley House site, situated near Holborn Viaduct in Farringdon, with strong transport links including access to the Elizabeth line, Thameslink, and multiple underground services. With international visitor numbers to London projected to reach c.25.2 million by 2030, demand for quality hospitality accommodation is set to grow.
The property is located within an established and evolving central London office hub, surrounded by major occupiers and a growing pipeline of new commercial and mixed-use developments. This JV is well positioned to capitalise on this opportunity, delivering high-quality accommodation in a location with proven and growing appeal.
Altius Real Estate will act as development manager throughout the project and played a critical role in securing full planning consent for the site. Construction is expected to begin imminently, following the demolition of the existing office block, and completion is anticipated in 2029. The thoughtfully designed, modern 11-storey aparthotel will offer a high level of service and guest experience, operated under Staycity Group's 'Wilde' brand.
The Scheme
Penta Real Estate, Staycity Group and Altius Real Estate will work together to deliver the aparthotel and commercial office space, with rooms designed to offer the freedom and space of apartment living, combined with the home comforts of fully equipped kitchens and the luxury of hotel services. The scheme will also refurbish the Grade II listed City Temple Church, a key community heritage asset.
The ground floor will be open to both the public and guests, offering a café, bar and co-working lounge areas. Guests will benefit exclusively from a 24-hour reception and full hotel services, all within one of the most central and best-connected locations in London.