Z Hotels, the compact luxury hotel group, is increasing its portfolio with the addition of Z Leicester Square to bring the total number of properties in the group to 15.
Centrally located in Charing Cross Road, the property will be open to guests in late 2024 and will have at least 81 rooms. This brings the total number of Z Hotels rooms across the country to more than 1,800.
The central location will allow guests to be right in the heart of theatreland and within walking distance of some of the main London tourist attractions including The National Gallery, China Town, Soho, Piccadilly Circus, Oxford Circus, Leicester Square, Covent Garden, and the Royal Opera House. Z Hotels is known for its unique locations at the heart of the city which suits both leisure and business guests.
In July last year, specialist real estate and hospitality investor, Aprirose, acquired a 50% stake in the business, paving the way for the next phase of growth.
Since the launch of its first location in Soho in 2011, a central pillar of Z Hotels’ strategy is to convert underutilised office space into hotels in prime locations in major UK cities. Stricter environmental rules and regulations are being introduced for office buildings making many facing the risk of becoming obsolete ‘stranded assets’ and ripe for conversion to alternative uses such as hotels.
Meenal Gudka, Chief Investment Officer, Aprirose, said: “This is the first new property development for Z Hotels since the pandemic and indicates a bounce back in demand for London hotels. We are pleased that Aprirose’s investment into the platform has helped provide the foundation for further growth. We are targeting additional development opportunities to capitalise on the current dislocation in the office market, with a continued focus on West-End London.”