Major freehold purchase in central London
Whitbread PLC (‘Whitbread’ or ‘Group’) is pleased to announce that it has acquired a prime freehold property on the Strand in central London, located just off Trafalgar Square. Subject to planning, 5 Strand will become the latest hub by Premier Inn hotel in the estate and is expected to open sometime during 2027. The purchase and development are being funded from the Group’s existing cash resources and will also include one of the Group’s popular Bar+Block steakhouse restaurants.
With a total investment of over £200m, including construction and related costs, this development reflects Whitbread’s commitment to continue to invest in expanding its presence in the popular London market where a significant proportion of Premier Inn’s future pipeline is located.
The purchase also underlines the Group’s confidence in the hub by Premier Inn brand. The brand was first introduced in 2014 and now has a total of 2,431 open rooms which performed strongly in FY22 and continues to score highly with our guests. Hub by Premier Inn is designed for locations in major cities where property prices are relatively high but, thanks to its smaller room format, is still able to generate attractive long-term returns whilst providing affordable rooms for guests.
Alison Brittain, CEO, commented: “I’m delighted that we’ve been able to acquire this iconic location, which is set to become our latest hub by Premier Inn hotel. It is in a prime position and is perfect for the hub brand which is continuing to perform well. The purchase reinforces our confidence in the long term potential of the London market, the hub by Premier Inn brand and the growth prospects of our UK business.”
About Whitbread PLC
Whitbread PLC is the owner of Premier Inn and restaurant brands including Beefeater, Brewers Fayre, Table Table, Bar + Block, Whitbread Inns and Cookhouse + Pub.
From booking to bed, Premier Inn is here to help its guests rest easy. Whether it's a choice of 80,000 rooms across 800+ hotels, beds guests won't want to leave, tasty food, flexible rates or friendly team members who genuinely care, these are just some of the reasons Premier Inn is one of the most-loved hotels in the UK and beyond.
Outside of the UK, Whitbread's expansion plans are focused on Germany. It opened its first hotel in Frankfurt in 2016 and has an open and committed pipeline of 73 hotels and over 13,500 rooms in H1 FY22.
Whitbread is committed to being a force for good in the communities in which it operates. It's sustainability programme, "Force for Good' is focused on enabling people to live and work well and is built around three pillars of Opportunity, Community and Responsibility.
Whitbread PLC is listed on the London Stock Exchange and is a constituent of the FTSE.
Roz Golds
Manager
Whitbread PLC
