A new ibis Styles hotel is being developed on the Greenwich Peninsula, on a site between Tunnel Avenue and the A102 and opposite the existing 162-bedroom Holiday Inn Express on Busby's Way. The 6-storey 47-bedroom hotel is on course to open in Q1 2017, a year later than first expected.
The '3 star premium' ibis Styles Hotel Greenwich Peninsula is being built through a joint venture between Accor Group, Interstate and London-based development and private equity firms Cherif Investment Properties and One Capital (One Investments).
It will be one of only two budget hotels on the Peninsula, and aims to attract international tourists visiting London, domestic tourists visiting The O2 and professionals in the area for business purposes. Also under construction is the luxury Intercontinental London The O2 hotel which will provide 453 rooms on the northeastern tip of the Peninsula when it opens in late 2015.
The new ibis Styles Hotel, like the nearby Holiday Inn Express, will accommodate guests on a site adjacent to the heavily congested A102 as it approaches the Blackwall Tunnel and the route leading to TfL's proposed Silvertown Tunnel, which would increase capacity of the river crossing and could be completed in 2021 at earliest.
The lead architect and design consultant for the hotel is Leach Rhodes Walker Architects, who have designed a number of ibis and Novotel Hotels in London. The design theme for the ibis Styles Hotel is Greenwich MeanTime, in which "design features will include time lines, line shafts, and infinite patterns representing time and space".
The Hotel's Family Suites will boast panoramic views across an ever-changing Greenwich Peninsula skyline towards The O2 and will be finished to luxury specification, with extras such as a coffee making machine, mini-fridge, sofa bed and working desk.
The hotel has been launched as an investment opportunity, with prices ranging from £134,995 for a double room, £147,995 for an executive room, through to £179,995 for a family suite. One Investments explain in their Investor's brochure:
Greenwich is the place to be when it comes to investment in the London hotel market at the moment. The development work underway there is set to drive up visitor numbers to the area for years, while being home to 'the world's busiest music arena' and having London on its doorstep means that Greenwich is already popular with everyone from family groups to international business travellers. With so much to offer already, the impact of the current regeneration work and of the launch of the ibis Styles Hotel, Greenwich Peninsula really is going to be exciting for this vibrant area of London.
The suites in the ibis Styles Hotel, Greenwich are purchased on a similar basis to purchasing an apartment and investors will own title to their hotel suite. In principle it operates in the same way as a buy-to-let investment, with the hotel operator acting as a management company and overseeing the process on behalf of the investor. In addition you not only earn from the rental of your real estate but also value added services such as food & beverage, telephone calls, car parking & wifi.
A planning application for the hotel (09/2796/F) was submitted in December 2009 and was refused after the Royal Borough of Greenwich decided the hotel would "constitute an over-development of the site that would be out of keeping with the scale, character and appearance of the immediate surrounding area" and because it "failed to make provision for adequate car parking spaces".
A further application was made in December 2014 (14/3599/V) and approved in April 2015. The new plans see the removal of the basement, reconfiguration of the car park (within a remapped and enlarged plot) and changes to the elevations. Prior to development of the hotel, an application was granted for temporary use of the vacant site for a car wash and fast food outlet. [Search for planning applications here]
Examples of floor plans from the most recent application (below) show the configuration of the ground floor of the hotel and rooms on the third floor.
Demolition and groundworks were completed in January 2015 and the site was handed over to lead contractor Iconic Build, in order to get foundation works for the £4.5 million development underway. Photographs taken from a drone show construction under way on the small triangular-shaped plot.
The ibis Styles Hotel will be located within easy reach of the amenities being developed in the surrounding area, including a number of shops and restaurants at Enderby Wharf. A 100-room hotel initially approved for the nearby Lovell's Wharf development, since renamed The River Gardens, has been scrapped. Similarly, an approved hotel on the adjacent Enderby Wharf scheme faces being axed, as developer Cathedral Group recently submitted a revised planning application (later approved in August 2015) which proposes to replace the 251-room hotel with additional housing, in order to fund the development of an enhanced International Cruise Liner Terminal. While developers make their case not to develop these larger hotels, the 47-room ibis Hotel might find itself well positioned to take advantage of an expanding domestic market in the immediate area.