Business
Improved planning consent agreed for art'otel
Improved planning consent agreed for art'otel.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 5806U PPHE Hotel Group Limited 01 April 2019 \n\n\nPPHE HOTEL GROUP LIMITED\n(\"PPHE Hotel Group\" or the \"Company\")\n \nPPHE Hotel Group drives forward its £180 million committed investment in new pipeline as improved final planning consent is agreed for art'otel london hoxton \nImproved planning consent approved by Hackney Council with the development now starting \n \nPPHE Hotel Group, an international hospitality real estate group, is pleased to announce it has received planning consent by Hackney Council for an improved and final development scheme of its wholly-owned art'otel london hoxton development. The total gross development of the scheme is 32,246 sqm over 27 floors. \nThe site, which is located on the border of Shoreditch and Hoxton, is a mixed-use scheme and will now consist of five floors of office space and seventeen floors comprised of 343 hotel rooms and suites. \nThe remaining five floors of the development will include a gym, swimming pool and wellness facilities, as well as art gallery space with an auditorium and event space on the 24th floor with unrivalled views across London. The interior design of the art'otel will be inspired by a signature artist, whose original works will be displayed, and the hotel will offer destination restaurants and bars including a rooftop lounge. \nWork on the site will take place from April 2019 and the development and art'otel london hoxton is expected to open in 2023. \nBoris Ivesha, President & Chief Executive Officer of PPHE Hotel Group commented:\n\"We are delighted to have received planning consent for our improved and final scheme to develop the art'otel london hoxton site into a 27-floor property. We have huge aspirations for our wholly-owned art'otel brand at a global level and with developments in progress in London's Hoxton and Battersea Power Station areas along with the recently announced New York City development we believe we can create further value for shareholders and enhance the overall guest experience.\"\n\"Since first listing in 2007, PPHE Hotel Group has significantly grown the business and has a proven track record of successful property development and creating value throughout the hospitality real estate supply chain. Recent corporate developments now mean that we have achieved the free float required for...