A boutique hotel developer has moved a step closer to its £1 billion property portfolio target after getting the green light for a 25-storey hotel at Stratford City.
Union Hanover Securities said winning planning permission for the £126 million East Village hotel means it is now delivering £400 million of hotels across Europe and North America.
The latest 249-bedroom building which will feature restaurants and cafes, was designed by New York-based Grzywinski+Pons.
Eric Jafari, managing director of Union Hanover Securities said: “The unanimous backing of the London Legacy Development Corporation shows that they are as committed as we are to adding a new element of character to the Stratford masterplan.”
He added that the planners share its vision of “creating a leisure-led cultural quarter”.
The company specialises in delivering hotels in fringe locations. It is also looking secure sites in Germany, Amsterdam and Dublin to help it build up to a £1 billion of property.
GL Hearn advised on planning.
