Investors back London’s recovery with £1bn Kensington hotel redevelopment
The £1bn redevelopment of the Kensington Forum hotel has been given the green light by planning authorities, with the investment signalling a vote of confidence in London’s recovery from the coronavirus crisis.
Queensgate Investments and Rockwell were given the go-ahead for the project, which will boost the number of hotel rooms available and create 62 affordable rental homes.
The new scheme, which is expected to create more than 800 jobs, will replace the existing 906 room venue with a new hotel, restaurants, bars, a spa and conference facilities, as well as residential properties.
Developers will also create a new, publicly accessible, garden square. £3m will be invested in public realm improvements around Gloucester Road station, and £1m has been set aside for training initiatives.
Queensgate and Rockwell said the scheme will be “part of the capital’s recovery and is testament to the powerful role the sector is envisaged to play”.
Jules Pipe, London’s deputy mayor for planning, regeneration and skills, said: “There is a desperate need for social housing across London… If we are to deliver affordable homes and other benefits for London, we must ensure we make the best use of land.”
“As well as improvements to the architectural quality, when compared to the existing building, the development includes a number of other significant benefits such as the addition of much-need affordable housing, a reconfigured public garden square, additional jobs, improved visitor accommodation and public realm improvements.”
Jason Kow, founder and chief executive of Queensgate, added: “Kensington Forum is an extraordinary scheme of exceptional quality, which will benefit both London and Londoners. The benefits of this redevelopment are substantial, and the new world-class hotel will establish a new benchmark for visitor accommodation in the capital that will doubtless become a landmark for the city.”