Hilton’s Canopy Hotel approved for £76m development in Aldgate, East London

Whitechapel has been transformed by redevelopment in recent years, with the Crossrail train line set to open in 2018

Hilton Worldwide, which has 35 hotels across the capital, has unveiled plans to launch a £76 million hotel development in East London.

The company has partnered with 4C Hotel Group, the site owners, to open Canopy by Hilton, its lifestyle brand, by Aldgate station in 2018. The launch will follow the opening of Canopy by Hilton in Reykjavik, Iceland, this summer.

The new development will feature a residential and an office building alongside the hotel, as well as a public garden and a new city square. 

Prices for a stay are yet unknown but the interior design of Canopy by Hilton London City will draw on the legacy of the Whitechapel Gallery and the melting pot of cultures in the surrounding area, according to the developer.

“Aldgate was chosen for its proximity to both the stylish City of London and the more edgy and energetic East End,” said Gary Steffen, global head, Canopy by Hilton.

Whitechapel has been transformed by redevelopment in recent years, with the Crossrail train line set to open in 2018. Homes within a 10 minutes’ walk of Whitechapel station could be 26 per cent more valuable than they are today by 2018, according to a research by Knight Frank, which has calculated the expected price increases for properties within a short distance of new cross rail stations.

Recent development in the area already include Altitude, a 35 storey tower and Cityscape, a residential building which comprises 128 units, with prices ranging from £315,000 for a studio to £800,000 for a three-bedroom apartment, according to the Financial Times.

Another new multi-million-pound development has launched of the site of former William Shakespeare’s Curtain Theatre in Shoreditch. 

The properties were described as the “best new address in London” with prices starting from £695,000 for studio apartments, to £1.2 to £1.4 million for two-bedroom flats rising up to £4 million for penthouses, according to the developer. The applicants who have registered an interest in buying an apartment at the development are largely UK buyers but the project has attracted attention from applicants coming from Continental Europe, the United States of America and the Middle East. 

“There is in Whitechapel and around Brick Lane an incredibly fragile ecosystem of small business owners, artists and creatives,” Iwona Blazwick, director of the Whitechapoel Gallery, told the Financial Times.

“So long as the developments do not price these people out, then I think it will be beneficial to the area… but if we drive them out, London as a city will be much the poorer for it,” she added

Comments