Edyn Group to open £27m Locke aparthotel in the City of London

Edyn Group to open £27m Locke aparthotel in the City of London

The Edyn Group is opening its latest Locke aparthotel in the City of London, the £27m Locke at Broken Wharf, next month.

The 113-bedroom aparthotel will be the group’s second in London, joining Leman Locke in Aldgate, alongside sites in Manchester and Edinburgh. Edyn also has plans for two further London openings, in Bermondsey and Dalston, later this year.

Locke at Broken Wharf will comprise an all-day restaurant, bar concept and co-working area, with a cultural programme spanning wellness, fitness, art and music. The Initiative has designed and will operate Deli Cat & Sons at the venue, a New York-style deli serving bagels and salads, breakfast and brunch, for eating in or taking away.

The rooms, designed by Matthew Grzywinski of Grzywinski+Pons, have a fully equipped, high-spec kitchen. Room sizes including Locke Studio (average 29sq m) or one of the larger premium River Suites (average 33sq m) for a long-term stay. Rates will start from £135 per night.

OakNorth Bank provided £27m of funding for the development of the 12-storey aparthotel. Edyn Group was known as SACO before it was rebranded, following its sale last year for £430m to Brookfield Asset Management.

Deepesh Thakrar, senior director of debt finance at OakNorth Bank, said: “We’re delighted to be working with the Edyn team and the strong backing of Oaktree Capital who are one of the world’s leading alternative investment managers, with real estate and infrastructure type assets making up 14% of its total $122b under management.”

Merzak Kaddour, investment director at Edyn Development Studio, added: “Our decision to work with OakNorth was driven primarily by the strong relationship I have with the debt team and the depth of knowledge displayed by OakNorth’s team in structuring this facility. We look forward to a prolonged working relationship.”