Staycity Group has announced the acquisition of a site near Nine Elms Station in London SW8 for the development of an 177-apartment Wilde Aparthotel.
Staycity has purchased the former three-storey office block from Unite Students for an undisclosed sum and will develop the site in partnership with Citygrove.
The company will seek funding for the £70m development once planning permission is obtained, taking an operational leaseback.
Building is expected to begin in 2026, with completion in the second half of 2027.
The Wilde Aparthotel will offer a mix of stylish studios and one-bedroom apartments sleeping up to four people.
The self-catering apartments will have fully-equipped kitchens with luxury appliances and a “fresh, modern design”.
Facilities will include a laundry room, 24-hour reception, lounge, a café, pantry, gym and bar.
Neil Short, Staycity Group’s development director for London, said: “The Nine Elms/ Battersea area has been on Staycity’s target radar following the announcement of the Northern line extension.
“Since the prestigious redevelopment of Battersea Power Station was completed, attracting the relocation of the US embassy and Apple’s European headquarters, it has become one of the most vibrant and active areas of London. We’re excited to be playing a part in its growth story.”