Firethorn has acquired 5 Lloyd’s Avenue in the City of London for an undisclosed sum.
Residential
Firethorn acquires City of London office with plans for hotel conversion
The project, for which a planning application will be submitted in spring / summer 2026, will repurpose the existing property for visitor use and add an additional floor, delivering substantial upgrades to the architectural quality of the building.
Once complete, the site will continue to offer high quality ground floor amenity – open to both guests and the wider public – and is intended to create a vibrant social hub for the local community.
Situated just off Fenchurch Street, 5 Lloyd’s Avenue benefits from excellent transport links and is within walking distance of major London landmarks, including the Tower of London, Tower Bridge, The Sky Garden, Leadenhall Market, and Borough Market.
Firethorn will once again work with SW3 Capital as operator for the site, following the purchase of a hostel development in Dublin earlier this year. The site at Sackville Place is currently under construction and will deliver 138 bedrooms, sleeping up to 716 guests.
Charlie Ingham, Head of Strategic Investment at Firethorn, said:
“Our conversion of 5 Lloyd’s Avenue will respond to a clear gap in the market for centrally located, affordable accommodation that doesn’t compromise on quality.”
Charlie continues: “Adding to our growing portfolio, which includes the office-to-residential conversion of One Bessborough Gardens and two PBSA developments in Stratford, this acquisition reflects our approach to reimagining assets and creating modern, sustainable spaces that serve both visitors and the local community. We’re looking forward to working with SW3 to bring this project to fruition.”
Ned Truman of SW3 Capital said: “As demand for experience-driven accommodation continues to grow in prime city locations, 5 Lloyd’s Avenue presents an opportunity to bring an affordable yet elevated hospitality offer to the heart of London.
“Building upon our successful collaboration on Sackville Place in Dublin, we are excited to be combining our experience with Firethorn once again to create a high-quality product that will deliver long-term value.”
A planning application is due to be lodged to the City of London in spring 2026.
Firethorn was advised by Avison Young on town planning matters. Dentons provided legal advice for the purchase, and Savills advised on the acquisition.
