A site in the Nine Elms,
Battersea, regeneration area that was to become the location for a new Embassy
of the Netherlands
has instead been sold on for a hotel development.
The site was chosen for the new embassy in 2013 but has been purchased from the Dutch government by the Dominvs Group. It already has outline planning permission for a hotel scheme.
Preet Ahluwalia, Director
of Dominvs Group, says: “In such a key location within the Nine Elms
regeneration area and moreover in terms of London’s
development story, the site presented us with the perfect opportunity to add to
our growing development pipeline and to our fledgling corporate-focused London hotel portfolio.”
This part of London is undergoing major redevelopment and has been described as a ‘new diplomatic quarter’ for London. The US Embassy is already here and a significant residential development, Embassy Gardens, is underway. However, developers and investors might wonder whether the loss of another significant embassy – China has also decided against moving their embassy to the area – detracts from the overall concept and value of the development.