UK: Ascott has opened Citadines Islington London, the newest addition to its aparthotel portfolio in Europe.
The property was acquired in April 2016 through Ascott’s serviced residence global fund with Qatar Investment Authority.
The 108-unit project has been delivered by privately held real estate investment firm Cain International. It is located in Islington Square, a new mixed-use development that includes shops, residences, offices, cinema and gym, all distributed across newly formed ‘streets’ conceived by award-winning architect Piers Gough of CZWG.
Housed in an Edwardian building that was once a Royal Mail Sorting Office, Citadines Islington London features four apartment types.
There are 81 studios and 27 one-bedroom apartments at Citadines Islington London, which can accommodate up to two and four guests respectively. Each apartment features a fully equipped kitchen, separate bedroom, private bathroom, living area, flat screen TV with Chromecast and free unlimited WiFi. All of the units are equipped with intelligent sensors, which will help to improve the property’s energy efficiency. Most of the one-bedroom and one-bedroom deluxe apartments also include a washing machine for the convenience of long-stay guests. Guests can also make use of the washing machine and dryer at the property’s laundrette. The property also offers Ascott’s Work in Residence initiative, where guests can rent an apartment as a private workspace, whilst benefitting from all of the room amenities and offerings at the property.
Ngor Houai Lee, Ascott’s managing director for Europe, said: “Citadines is our fastest growing brand globally and this new opening is the latest milestone in our expansion plans for Ascott. Ascott’s serviced residences that cater primarily to the long stay segment have proven to be resilient amid the Covid-19 situation. We have been providing accommodation to healthcare workers and guests seeking alternative work-from-home locations. We expect demand for accommodation to pick up with gradual reopening of the international borders. London is a key area of development for the group in Europe. We currently have more than 900 units in London, which will increase by a further 300 units when our next property, Citadines Wembley London, opens next year. By 2023, we plan to further add over 800 new units across Europe.”
Richard Pilkington, head of European real estate at Cain International, says: “We are delighted to welcome the latest property in the Citadines brand to Islington Square. Their offer is a perfect complement to our mixed use estate and our existing leisure and retail tenants. We will be announcing further tenants in the coming months as we progress towards a return to normality and anticipate there will be an increased appetite for high quality mixed-use spaces such as Islington Square, which can offer a range of experiences within a single destination, reducing travel time and exposure to multiple venues.”
