Nine Group acquires half-built hotel development near O2 Arena

London’s Greenwich Peninsula Hotel has been brought out of administration after it was acquired by hotel and investment firm Nine Group.

The property is a 10-minute walk from the O2 Arena and close to the University of Greenwich, ExCel London, North Greenwich station and London City airport.

The hotel currently has 50 bedrooms, and there are plans to extend the partially completed six-storey hotel, which will hold a three-star rating.

The development was originally sold to a group of 50 buy-to-let investors, but was later abandoned when Conqueror Holdings fell into administration as a result of a failed joint venture between Zeeshaan Shah of property investment company One Capital and Cherif Investment Properties.

Vivek Chadha, director of Nine Group, said: “I am delighted to be able to complete the build of this hotel, which has been standing incomplete in the centre of the Greenwich Peninsula for over two years, causing consternation to local residents and visitors alike.”

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