Union Hanover Securities has secured planning consent for its £126 mln (€172 mln) Penny Brook hotel scheme in Shoreditch To Stratford, UK.
Union Hanover Securities has secured planning consent for its £126 mln (€172 mln) Penny Brook hotel scheme in Shoreditch To Stratford, UK.
The 249-bed hotel forms a 25-storey tower and boasts restaurants and cafes at ground floor level, with conference facilities and event space with a terrace on the second floor. The development also includes an adjacent 137-bed Adagio.
Tower8 has been appointed as the project manager.
Work is expected to begin on site by early autumn.
Union Hanover specialises in delivering boutique hotels in fringe locations and is currently delivering over £400 mln of hotel development across North and Central America and the UK. Other projects include an Urban Villa in Aberdeen, and in Edinburgh and its Sarani Resort in Panama.
GL Hearn advised on planning.
