Germany-based boutique hotel brand Amano Group is expanding its London presence with the acquisition of Waterman House, its second property in the city.
Located 50 yards from its sister property, the Hotel Amano Covent Garden, Waterman House will feature 70 guestrooms and a ground-floor food retail outlet.
Arranged over nine floors and encompassing about 25,000 square feet, Waterman House has been vacant for nearly a decade and has fallen into disrepair.
The planned redevelopment will restore its architectural character and transform it into a design-forward property in London's theater district.
With the two hotels located directly across from one another, guests will have access to both property's rooftop bars, restaurants, event spaces and coffee shops.
Manex Properties, a joint venture between Berlin-headquartered Amano and London-based investment firm Excellion Capital, completed the acquisition in September.