(Pictured: City Apartments’ Philpot House, 2 Philpot Lane EC3)
City Apartments Ltd., the Smithfields based serviced apartment operator has just completed its third prime City of London development called Cloth House just off Long Lane. The building consists of 32 high spec apartments to look after visiting business executives in The City. Cloth House follows hot on the heels of Philpot House off Fenchurch Street and City House on Cannon Street.
Jonathan Dennis, director of City Apartments said “it has been a long haul and taken 8 years to finish Cloth from when we first engaged with the freeholder, Farmers & Fletchers Livery Company, but it has been well worth the time and effort. The bar has been raised in the 15 years we have been in business to our guests now expecting air con and a top spec and with Crossrail arriving in a couple of years just round the corner I think this is an excellent location to serve our City clients”.
Mark Winter, City Apartments’ property manager added “the difficulty now is finding the next project. Our philosophy is all about providing a safe walk from our guests’ City office to their apartment so any new scheme has to be very central. With the rise in City rents and capital values I suspect our next project will be another joint venture with an existing landlord. Hopefully I will get to work on the next building soon”.