City of London approves plans to convert Ibex House into 382-room hotel
Dominus and Cheyne Capital JV to transform Grade II-listed Art Deco office.
4 February 2026
A joint venture between developer Dominus and investor Cheyne Capital has secured planning permission from the City of London Corporation to convert Ibex House, a landmark Grade II-listed Art Deco building near Aldgate, into a 382-room hotel.
Designed by Studio Moren, the consented scheme will repurpose the former office building for hospitality use while retaining 100% of its substructure and 90% of its superstructure. The project targets BREEAM Excellent certification and alignment with the UK Net Zero Carbon Buildings Standard.
Originally built between 1933 and 1937, Ibex House occupies a prominent position close to Fenchurch Street and Tower Hill stations. Under the approved plans, the building’s distinctive architectural character will be preserved, including the integrated pub, with enhancements to the public realm and the reactivation of ground-floor spaces.
The scheme includes reopening and upgrading the historic Peacock pub, the addition of a new café, and the launch of a Hospitality Academy in partnership with The Springboard Charity, aimed at developing new talent in the sector. These elements align with the City of London’s Destination City strategy to encourage a broader mix of uses and create a more vibrant seven-day-a-week economy.
Preet Ahluwalia, CEO of Dominus, said the Ibex House project reflects the company’s wider strategy to convert underutilised central London offices into “market-leading hotels in central locations,” following similar developments such as The Derby London City near the Tower of London.
Dominus and Cheyne Capital completed the acquisition of Ibex House in December 2025. The project marks the second joint venture between the two firms, who are also delivering a student accommodation-led redevelopment at 65 Fleet Street.
Anupriya Rajpal, development director at Dominus, said the new hotel would celebrate Ibex House’s Art Deco heritage while introducing active public uses at street level. Cheyne Capital’s Hamish Gordon added that the project would support the ongoing transformation of the Square Mile into a destination for both business and leisure.
