Queensway Gets Green Light for Two Office-to-Hotel Conversions in the Capital

Why It Matters

The approvals illustrate how developers are monetising excess office space to meet rising demand for boutique hotels in London’s core, boosting the city’s hospitality supply and supporting economic revitalisation. Investors see a clear value‑creation pathway by repurposing underused assets in prime locations.

Key Takeaways

• Queensway approved two hotel conversions totaling 341 rooms
• 236-key Monument hotel repurposes 75,000 sq ft office building
• 105-key High Holborn hotel adds café, co‑working, bar, lounge
• Queensway partners with Savills and Tristan Capital on acquisitions

Pulse Analysis

London’s office market has entered a period of oversupply, with vacancy rates climbing above pre‑pandemic levels. Developers are increasingly looking to transform underperforming office blocks into hospitality venues that cater to both business travellers and leisure guests seeking central locations. This shift aligns with broader urban trends where mixed‑use concepts and flexible workspaces are becoming essential to revitalise city centres and sustain foot traffic.

Queensway Group’s latest approvals exemplify a strategic play on this trend. By converting the 75,000‑square‑foot office at 29 Clements Lane into a 236‑room Point A Hotel, the company taps into the high‑density demand around the City’s financial district. The complementary 105‑room project on High Holborn adds lifestyle amenities—café, co‑working space, bar and lounge—mirroring the brand’s focus on affordable, design‑forward stays. Partnerships with Savills and Tristan Capital provide both the transaction expertise and capital backing needed to execute such complex change‑of‑use projects efficiently.

For investors, these conversions promise attractive yields as hotel occupancy rebounds and premium central locations command higher room rates. The City of London’s "Destination City" initiative, which aims to diversify the area’s appeal beyond finance, further supports the viability of hospitality expansions. As more developers follow suit, the market could see a wave of office‑to‑hotel transformations, reshaping London’s skyline and offering new revenue streams for asset owners.