Staycity Group completes on landmark hotel project in Nine Elms, London

ASAP Operator Member Staycity Group  has completed on a sale, development and leaseback transaction with  Bridges Fund Management  and  Citygrove  that will see the development of a new 185-room Wilde Aparthotel in Nine Elms, London.

Staycity secured a full planning consent for the development from Lambeth Council in November, paving the way for this transaction. Staycity has sold the Wyvil Court site to Bridges and Citygrove, who will develop the aparthotel. Staycity has agreed a 30-year lease to operate the property, which is expected to open in 2028 and has an expected gross development value of c. £85m.

Located at 10 Wyvil Road, the development will introduce Staycity’s boutique lifestyle brand, Wilde, to the wider Vauxhall/Nine Elms area. The property will include a design-led front-of-house with publicly accessible reception, bar, co-working space, café and pantry & artisan shop, creating a vibrant destination for visitors and the local community alike. The development will have a strong focus on sustainability, including onsite solar PV, air source heat pumps and green roofing.

The transaction marks a milestone for the three companies. For Staycity, it represents a significant structured development and investment transaction by the group’s real estate development arm; while it is also the first investment by Bridges and Citygrove in partnership.

Bridges Fund Management  is a specialist fund manager focused on sustainable and impact investing. Since 2012, Bridges have developed over £2bn of assets across 70+ transactions, delivering attractive investment returns alongside positive social and environmental outcomes.

Barry Hickey , Managing Director of Staycity’s real estate arm, said: “In today’s volatile real estate market, to execute a transaction of this scale and complexity represents significant success. This is one of the very few hotel development transactions in London of scale in 2025, and testament to the investment confidence in Staycity Group. It has been a pleasure to complete our first transaction with Bridges Fund Management and we look forward to others in the future.”

Adam Amijee,  Investment Manager at Bridges Fund Management, added: “We’re delighted to be partnering with Citygrove to regenerate this derelict office building and bring it back into economic use – drawing on our extensive experience of sustainable development to deliver measurable reductions in embodied and operational carbon. We’re also excited to be working with Staycity, who not only share our focus on ESG and sustainability, but also bring best-in-class operating expertise. We’re confident that together, we will deliver a modern, sustainable aparthotel that also creates jobs and supports local economic growth.”

Staycity and Bridges extend a special thanks to Tom Fuller & all the team at Citygrove Development Service, who played a significant role in the transaction.

Tom Fuller , Development Director at Citygrove, said: “This is a fantastic endorsement of Staycity, and also Citygrove’s track record in the hotel sector. We are delighted to have secured planning consent on behalf of Staycity, and to be continuing the project to deliver a best-in-class sustainable Wilde aparthotel in partnership with Bridges.”

Addleshaw Goddard acted for Staycity in this transaction, while Taylor Wessing and JLL acted for Bridges.

Construction is expected to begin in summer 2026, with the new Wilde scheduled to open in early 2028.