UK: Leumi UK, the London-based subsidiary of the Israeli international bank, has agreed a four-year loan with the group to fund the development 342-bedroom Canopy London City, scheduled to open in March 2021.
The hotel will form part of the £76 million Minories development in Aldgate, which is overseen by architectural firm Acme.
Owned by 4C Hotel Group, the hotel will be operated by RBH and is expected to have a rooftop restaurant and a locally inspired café.
Also included in the Minories development is an office building, a pub and residential block.
Louise Gillon, head of hotel finance at Leumi UK, said: “This deal has fortified our long-standing relationship with 4C Hotel Group. Working with the team previously, we have always been very impressed by the quality of their developments and this one has been no different.”
Al-karim Nathoo, managing director of 4C Hotel Group, said: “Working alongside our team, Leumi UK has yet again delivered outstanding service, enabling us to meet our capital needs while continuing to grow our portfolio.”
4C Hotel Group owns six properties in and around London, with presence in the Middle East, East Africa and Canada.
Currently under development is the DoubleTree by Hilton Hotel in Oyster Bay, Dar-es-Salaam, and the Westin London City which forms part of the redevelopment of the former Queensbridge House site.
