LONDON—Yotel plans to open its third property in the U.K. in late 2018 with a 212-cabin hotel in Central London’s creative quarter of Clerkenwell.
Regarded as the epicenter of London’s design and architecture scene and a leader in the U.K.’s Tech Nation program, Clerkenwell is ideal for Yotel’s first city-center hotel in Europe, according to the company.
The project, developed by Medina Investments, has already broken ground. The cabins will include Yotel’s signature space saving adjustable SmartBed, monsoon rain shower and techno-wall features, which includes mood lighting and entertainment options, with smart TVs.
Additional facilities will include a gym, bar, an independently operated dining outlet and Yotel’s Club Lounge concept, which offers flexible meeting and co-working spaces that will be designed in keeping with the surrounding area. All cabins and communal areas of the hotel will be served by fast and free WiFi connectivity.
Yotel’s CEO Hubert Viriot, said, “We are more than ready to bring the Yotel city-center concept home. Since the opening of our flagship in New York, we have been looking for the right opportunity and we finally found it in Clerkenwell. The mixed-use project, developed by Medina Investments, complements the Yotel brand perfectly. It’s dynamic, creative and forward-thinking and backed by a developer with acumen and vision.”
The Clerkenwell development is funded with capital from ICG-Longbow, which specializes in value-add real estate loans across the U.K.
With sustainability and efficiency central to all of the parties involved, the hotel will be car-free, encouraging guests to utilize the numerous alternative transport options in the area. The property is a six-minute walk from Farringdon Station, seven minutes to Spa Fields Park, eight minutes to City University London and a 15-minute walk to the Barbican Centre for performing arts. According to the company, the hotel will benefit from the impending arrival of Crossrail to Farringdon Station, set to complete in 2018 and forecasted to be one of the most popular stations on the new line.