We have advised Munich-based hotel brand Ruby Hotels on the lease for its fourth UK property in early 2024.
Situated close to Tate Modern, the Southbank and Borough Market, the 169-room development will follow Ruby’s ‘Lean Luxury’ philosophy – a central location, high-quality fittings and a unique design, all offered at an affordable price – and house a 24-hour bar, café and lounge on the ground floor for residents and locals.
The seven-storey hotel is one element of Friars Yard, a new publicly accessible and landscaped courtyard being developed by Endurance Land – advised by Jones Lang LaSalle (JLL) – and investment partner Angelo Gordon, as part of a wider mixed-use office and retail complex at 160 Blackfriars Road.
The hotel follows the opening of Ruby Lucy on the Southbank in 2020; Ruby Zoe, arriving in Notting Hill in 2023; and Ruby Stella, coming to Clerkenwell in 2023.
Commenting on this latest deal, Partner Michael Helfgott said: "The hotels, hospitality and leisure industry requires a dynamic approach and commitment to excellence which are at the heart of Ruby Hotels. It was a pleasure working again with Michael Struck, Elena Gunther, Julian Mors and all of the team at Ruby, and to assist them with a commercial approach which Ruby Hotels needed on this deal."
Michael Struck, founder and CEO of Ruby Hotels commented: “The current challenges and future prospects of the industry have confirmed our ‘Lean Luxury’ approach. We make a luxurious and unique hotel experience affordable for our guests, and combine this with a cost structure, which is leaner and more adaptable than usual. Taylor Wessing was instrumental in getting this deal across the line and continue to be a valuable partner to us."
The deal was led by Real Estate Partner Michael Helfgott with the support of Construction Partner Matthew Jones, Corporate Partner Ed Story, Planning Associate Joanna Bassett, and Real Estate Associate Holly Cullen.