SINGAPORE’S KOP Group yesterday won approval to convert 10 Trinity Square, a listed landmark overlooking London’s Tower Hill, into a luxury boutique hotel.
KOP said in a statement yesterday that City of London had approved plans to turn the building – which was originally home to the Port of London Authority’s headquarters – into a 120-room hotel with 41 luxury serviced apartments, a restaurant, two bars, members’ club and a spa.
The company’s real estate arm KOP Properties joined forces with Beijing-based investment group Reignwood in 2010 to buy the Trinity Square site for £100m.
Its previous owner, US tycoon Stan Thomas, had planned to turn the site into a luxury hotel but the ambitious plans collapsed following the property crisis.
KOP owns luxury developments in Singapore, including the Ritz-Carlton Residence. Its Franklyn Hotels and Resorts chain includes the Durley House and Cadogan hotels in London.
CBRE has been appointed as sales agents of the residences and architecture firm Woods Bagot is designing the scheme.
The City is expected to see a flurry of new hotel developments granted this year, particularly around the Tower Hill area.