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The deal will see Staycity Group take a 30-year lease on the property, which has an anticipated gross development value of around £85m. Bridges Fund Management and Citygrove will develop the aparthotel after acquiring the Wyvil Court site from Staycity.
Staycity secured full planning consent for the scheme from Lambeth Council in November. Construction is expected to begin in summer 2026, with the aparthotel scheduled to open in early 2028.
The development, located at 10 Wyvil Road, will introduce Staycity’s boutique lifestyle brand Wilde to the wide Vauxhall and Nine Elms area. Plans include a publicly accessible reception, bar, co-working space, cafe and retail offer.
Barry Hickey, managing director of Staycity Group’s real estate arm, said completing a transaction of this scale in the current market demonstrated investor confidence in the business.
Adam Amijee, investment manager at Bridges Fund Management, said the partnership would regenerate a derelict office building and deliver reductions in embodied and operational carbon, while supporting local economic activity.
Tom Fuller, development director at Citygrove, said the project reflected both Staycity’s operating strength and Citygrove’s track record in the hotel sector.
As part of the transaction, Addleshaw Goddard acted for Staycity Group, while Taylor Wessing and JLL acted for Bridges Fund Management.
Highlights:
- Staycity Group to deliver a 185-room Wilde aparthotel in Nine Elms, London.
- The £85m scheme will operate under a 30-year lease and is due to open in 2028.
- Bridges Fund Management and Citygrove will develop the property following planning approval.
