UK: Real estate investor, developer and asset manager Firethorn has acquired 5 Lloyd’s Avenue in the City of London from a client of Swiss Life Asset Managers UK for an undisclosed sum.
Situated off Fenchurch Street in the City of London, 5 Lloyd’s Avenue will be repurposed from an office into a hotel.
Planning will be submitted by summer 2026, which will include the addition of an extra floor to create a “vibrant social hub for the local community”.
Firethorn will work again with SW3 Capital as operator for the London site.
It follows the purchase of a hostel development in Dublin earlier this year. Located at Sackville Place, the project 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.
“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 tofruition.”
Ned Truman, director and partner 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.”
Firethorn was advised by Avison Young on town planning matters. Dentons provided legal advice for the purchase, and Savills advised on the acquisition.
Highlights:
• Firethorn has acquired 5 Lloyd’s Avenue in the City of London from a client of Swiss Life Asset Managers UK for an undisclosed sum
• The property, located off Fenchurch Street, will be converted from offices into a hotel with plans to add an extra floor
• Planning for the redevelopment is expected to be submitted by summer 2026
• Firethorn will partner again with SW3 Capital as the site’s operator, following the collaboration on a hostel project in Dublin
