23 August 2018 to Whom It May Concern. PROPOSED PREMIER

Home , EasyHotel, Finsbury, Finsbury Park (area), Finsbury Park station, Premier Inn

CBRE Hotels Limited St Martin’s Court 10 Paternoster Row London EC4M 7HP

Switchboard + 44 (0) 20 7182 3700

www.cbrehotels.com

Direct Line: + 44 (0) 20 7182 3881 Email: [email protected]

23 August 2018

To whom it may concern.

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION) This report has been prepared on behalf of Tide Construction Limited to evaluate the concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within a 500-metre radius of the proposed hotel development. Our involvement is as an expert consultant to the hotel, tourism and leisure industries with specific knowledge of the United Kingdom and particularly London’s hotels and similar uses (such as other visitor accommodation, hostels and student accommodation). CBRE Hotels is a full-service hotel advisory business with our core services being, RICS Hotel Valuation Services, Hotel Asset Management and Brokerage Services as well as Hotel Consultancy Advisory services. CBRE is the world’s largest real estate firm, with over 80,000 professionals across the globe and more than 120 dedicated hotel professionals in EMEA. This allows CBRE Hotels to provide advice and support throughout the life cycle of a hotel project and asset from project conception or acquisition, valuation, asset management and disposal. This report is set out under the following headings:

1. Introduction 2. Current Concentration 3. Is there an Over-Concentration? 4. Demand and Performance 5. CBRE’s Conclusion 6. Appendices

www.cbrehotels.com Registered in England No 3267110 Registered office St Martin’s Court 10 Paternoster Row London EC4M 7HP

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

1. INTRODUCTION 1.1. To assess the concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) and conclude whether there is an over-concentration within 500 metres of the proposed Premier Inn Hotel site, we have considered the most recent available supply and pipeline of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) according to the type; split into hotels, serviced apartments, hostels, student accommodation and others, in accordance with the definition of uses set out in paragraph 4.55 of Islington’s Development Management Policies (2013).

1.2. We have utilised various sources in compiling this information, including:  CBRE Research  AM:PM Hotels  Islington’s Planning Portal  Google Maps/Google Search  The AA, Automobile Association  Inside Airbnb/Airbnb, Inc. 1.3. AM:PM Hotels formed the basis for our assessment. This database allows the search of hotels and similar tourist accommodation within a specified radius from a specific postcode. As the database only permits the defined radius to be in miles we used a radius of 0.31 miles (499 metres) surrounding N4 2HX.

Subsequently we utilised Google, the AA, as well as Islington’s Planning Portal to confirm the sites 1

identified and to ensure any outliers have been captured in our appraisal.

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1.4. Additionally, for our analysis of hotels and similar uses in the wider area, we considered accommodation establishments within Islington borough and a 500-metre radius of two key junctions in the borough. CBRE’s student accommodation team supported this report with data on student housing. Also, Inside Airbnb and Airbnb, Inc. were used for our analysis of Airbnb listings in Appendix 3.

1.5. The report, which we have prepared and provide for this planning application, is true based on the information we have reviewed and presented and we confirm that the opinions expressed are our true and professional opinions.

2. CURRENT CONCENTRATION 2.1. Please refer to Appendix 1 for a map and detailed overview on the current and future supply of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within 500 metres of the proposed Premier Inn Hotel.

2.2. Based on our research, there are currently six hotels (285 rooms total), two serviced apartments (25 apartments total) and three student accommodation properties (937 bed spaces total) operating within a 500-metre radius of the proposed Premier Inn Hotel. We have not found any hostels operating within the identified area and did not consider privately rented apartments. This totals 1,247 existing rooms/beds (excluding the Premier Inn Hotel and other pipeline) within the 500-metre radius of the proposed Hotel.

2.3. The close-by Travelodge Finsbury Park is the only branded hotel asset within the area of consideration. The remaining five hotels are small in scale (all below 70 rooms) and independently operated. The Finsbury Park Serviced Apartments is the largest serviced apartment property within the considered area with only 17 units.

2.4. Around 75 per cent of the current accommodation supply within the 500-metre radius is made up of three student accommodation blocks. One of them, Sketch House, is operated by UAL. The closest UAL campus is a 22-minute ride away with the Underground. The remaining two houses are not directly associated to any university. Whilst student accommodation is strong in the identified area, it is less concentrated compared to other parts of Islington (e.g. area bordering to King’s Cross).

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

2.5. There is just one extension in the current hotel pipeline (Queens Hotel, +7 rooms) in final planning stage (excluding the proposed Premier Inn Hotel with 192 keys).

3. IS THERE AN OVER-CONCENTRATION? 3.1. In order to identify a potential over-concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within the 500-metre radius surrounding the proposed Hotel, we have analysed the current supply and pipeline of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within Islington borough. Please refer to Appendix 2 for a map and further details.

3.2. In total and including the proposed Hotel, Islington hosts 17,001 units/beds in the current supply and pipeline of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation). This compares to 1,446 units/beds (including the Premier Inn Hotel and other pipeline) within the 500-metre radius surrounding the Premier Inn Hotel, most being independently operated. This represents only seven per cent of Islington’s current and future stock.

3.3. Map 2 in Appendix 2 clearly illustrates the lower concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within the 500-metre radius of the proposed Hotel. In contrast, the area in the South of Islington borough, in zone one, shows significantly higher concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation). We have thus identified two prime junctions in the South of the borough that carry similar characteristics of being transportation hubs, which can be compared to the area under review:

 Angel Junction

 Clerkenwell Junction

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3.4. Both junctions are outlined in Map 2 in Appendix 2. When applying a 500-metre radius to the above- mentioned junctions, we count the following units/beds:

 Angel Junction: 2,616 units/beds  Clerkenwell Junction: 2,890 units/beds 3.5. The concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within the 500-metre radius of the proposed Hotel is thus significantly lower than both junctions considered. This gap in concentration would not materially change with the proposed opening of the Premier Inn Hotel.

3.6. To further underpin our conclusion, we have conducted an analysis of Airbnb listings within 500-metres surrounding the Site in comparison to the surrounding of each junction considered. Our analysis shows that Airbnb stock is significantly more concentrated around the analysed junctions. Please refer to Appendix 3 for the full analysis.

3.7. When considering key development frameworks and policies for Islington borough, we have identified that hotel development is actually encouraged within this micro-market. The below summarises our key considerations and Appendix 3 includes a detailed analysis. 3.8. The proposed Hotel sits within Finsbury Park Town Centre, one of Islington’s designated Town Centres (see Map 2 in Appendix 2), which has been identified as a suitable area for hotel development. The Site is also located within Finsbury Park’s Central Activities Zone, within the core focus area (see Map 7 in Appendix 4), a dedicated area for commercial development.

3.9. Furthermore, the Premier Inn Hotel will be in close proximity to Finsbury Park station, a key transport hub in North London and the strength of this communication link further supports hotel development.

3.10. The Site’s surrounding is characterised by small shops, restaurants and cafes, a gym and places of worship. The area lacks in high-quality commercial units, including branded hotels. The opening of the proposed Premier Inn Hotel, will diversify and support the area’s commercial offering. The Hotel’s ground floor, including food and beverage (F&B) facilities, will be open for non-residents and the economic function of surrounding businesses will be further supported by passenger traffic from and to the Hotel.

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

3.11. Our analysis shows that other areas within Islington borough have higher concentrations of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) when compared to the area under review. This supports our conclusion that the area is not over-concentrated and that the proposed Premier Inn Hotel thus supports the London Plan Policy 4.5. Additionally, the proposed hotel development is encouraged by Islington’s key development frameworks and policies, not limited to the Site’s location within one of Islington’s designated Town Centres.

3.12. We conclude that the 500-metre radius surrounding the proposed Hotel is not over-concentrated and that the addition of the 192 bedrooms would not make a material difference to this area’s concentration. On the contrary, in order to become a destination for tourists, more quality (i.e. branded) visitor accommodation has to be opened to cater to increased demand moving forward.

4. DEMAND AND PERFORMANCE 4.1. Please refer to Appendix 5 for major regeneration schemes surrounding the Site and to Appendix 6 for a detailed analysis of Finsbury Park’s market characteristics and key demand generators.

4.2. The hotel site characteristics at Finsbury Park present a clear opportunity for a Premier Inn Hotel. The proposed Hotel will benefit from its prominent positioning close to Finsbury Park station, being an affordable accommodation option with easy access to Heathrow Airport, Central London and key points of interest. The Hotel will also attract transient travellers, given its close proximity to major road networks (e.g. North Circular Road and Archway Road).

4.3. The proposed hotel operator, Whitbread, would not take a fixed lease in an area that does not benefit either now or in the short-term from considerable hotel demand. There is great potential for the proposed

Hotel to attract demand during football seasons but also from other events that take place in the close-by

Emirates Stadium and in Finsbury Park. Ensured by strong accessibility, the Premier Inn Hotel is likely to Page

attract displaced demand from Central London when hotels run at maximum capacity almost year-round.

4.4. London has one of the strongest performing hotel markets across Europe, with hotels consistently achieving occupancy levels above 80 per cent on an annual basis. In 2017, London full-service hotels recorded 81 per cent on average, with budget hotels achieving 84 per cent on average. This highlights the particularly strong demand for budget accommodation in the city.

4.5. Performance projections by the operator forecast occupancy levels at 81 per cent by stabilised year four. We consider this to be reasonable when comparing it to performance levels of London’s budget hotel market and our internal benchmark of branded hotel supply in Islington.

4.6. London hotels typically accommodate high-yielding, transient corporate demand during weekdays and price-sensitive leisure demand at weekends.

4.7. In Finsbury Park, hotel demand is more leisure- than business-driven, given the area’s lack in corporate occupiers. The proposed Hotel has, however, the potential to attract displaced, high-yielding corporate demand from the City, helped by the area’s strong accessibility. Leisure demand will peak at weekends and particularly when football matches and events are taking place in close-by Emirates Stadium. The Hotel can capitalise on such periods with higher room rates.

4.8. For both target markets, Finsbury Park hosts affordable accommodation options with easy access to Central London. Whilst room rates will be discounted to more centrally-located hotels, performance will be ultimately driven by volume.

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

5. CBRE’S CONCLUSION

5.1. Based on our analysis, the proposed Premier Inn Hotel’s bedroom addition would not materially alter the concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) within a 500-metre radius of the Site; nor are the 500 metres surrounding the site currently over-concentrated with hotels and similar uses (such as other visitor accommodation, hostels, student accommodation and Airbnb listings), especially when compared to other areas within Islington borough.

5.2. In our opinion, the proposed Hotel is encouraged by Islington’s key development frameworks and policies. The Site is located within Finsbury Park Town Centre, which has been identified as a suitable area for hotel development, it also sits within Finsbury Park’s Central Activities Zone, a dedicated area for commercial development, and it is in close proximity to Finsbury Park station, a key transport hub.

5.3. District Town Centres require adequate accommodation facilities for visitors. Yet the 500-metre radius surrounding the Site lacks in branded hotels. Thus, whilst the proposed Hotel would not significantly alter the area’s concentration of hotels and similar uses (such as other visitor accommodation, hostels and student accommodation), it will support economic and commercial development of Finsbury Park Town Centre and will likely be a catalyst for further private investment into the area.

5.4. In our opinion, the proposed Premier Inn Hotel will be a positive addition to Finsbury Park Town Centre and to the residents, workers and visitors to this area of Islington.

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Yours sincerely

Benjamin White Catherine Latzenhofer Director Analyst EMEA Advisory Services EMEA Advisory Services

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

6. APPENDICES

Appendix 1: Current Concentration of Supply – 500-metre radius

Map 1: Hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) – 500-metre radius

PROPOSED HOTEL

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Source: Google Maps 2018

Table 1: Supply – 500-metre radius

PROPERTY TYPE BRAND OPENED GRADE UNITS/BEDS POSTCODE ADDRESS DISTANCE (METRES) Hotels 1 Travelodge London Finsbury Park Travelodge 2016 Budget 104 N7 7JR 185-187 Isledon Road 138 2 Central Park Hotel @ Finsbury Park Independent n/a 2 61 N4 2SN 3-15 Wilberforce Road 402 3 Queens Hotel Independent n/a 3 27 N4 2AP 324 Seven Sisters Road 444 4 Pembury Hotel Independent n/a 3 67 N4 2AP 326-328 Seven Sisters Road 463 5 Queens Drive Independent n/a 2 15 N4 2AP 169 Queen's Drive 466 6 Isledon Hotel Independent n/a 2 11 N7 7LD 60 Isledon Road 493 Serviced Apartments 1 Arsenal Apartments Independent n/a 3 8 N4 3HP 144 Fonthill Road 104 2 Finsbury Serviced Apartments Independent n/a 4 17 N4 3HQ 13 Goodwin Street 118 Student Accommodation 1 Pure Highbury Pure Student Living n/a 400 N7 7JR 201 Isledon Road 42 2 Sketch House UAL 2015 475 N4 3TD 36 Clifton Terrace 379 3 Smart Student Accommodation Independent n/a 62 N7 7PH 3-5 Thane Villas 493 Source: CBRE Research, AM:PM Hotels 2018

Table 2: Pipeline – 550-metre radius

PROPERTY TYPE BRAND OPENING GRADE UNITS POSTCODE ADDRESS DISTANCE (METRES) PLANNING REF PHASE Hotels 1 Queens Hotel (Extension) Independent TBA 3 7 N4 2AP 324 Seven Sisters Road 444 2017/1637 Final Planning Proposed Premier Inn Hotel Premier Inn TBA Budget 192 N4 2HX 240 Seven Sisters Road Source: CBRE Research, AM:PM Hotels 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Appendix 2: Current Concentration of Supply – Islington Map 2: Hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) – Islington

Archway Town Centre PROPOSED HOTEL

Finsbury Park Town Centre

Nag’s Head

Town Centre

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Angel Junction

Clerkenwell Junction

Source: Google Maps 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Table 3: Supply – Islington PROPERTY TYPE BRAND OPENED GRADE UNITS/BEDS POSTCODE ADDRESS Hotels 1 Charlies Hotel Independent 2 26 N7 0AR 63 Anson Road 2 DoubleTree by Hilton London Islington DoubleTree 1998 4 373 N1 9LA 60 Pentonville Road 3 easyHotel London Old St Barbican easyHotel 2012 Budget 92 EC1V 9AZ 80 Old Street 4 Five Kings Hotel Independent 1990 2 16 N7 0AR 59 Anson Road 115 Charterhouse 5 Fox & Anchor Young`s Hotels 4 6 EC1M 6AA Street 6 Hilton London Angel Islington Hotel Hilton 1997 4 188 N1 0UY 53 Upper Street 7 hub by Premier Inn London Kings Cross hub by Premier Inn 2017 Budget 389 N1 9FA 50 Wharfedale Road 8 M by Montcalm Shoreditch London Tech City Montcalm 2015 5 288 EC1V 1JH 151-157 City Road 18-21 Charterhouse 9 Malmaison London Malmaison 2003 4 97 EC1M 6AH Square Montcalm Royal London House City Of 22-25 Finsbury 10 Montcalm 2016 5 253 EC2A 1DX London Square 18-26 Parkfield 11 Premier Inn London Angel Islington Premier Inn 2011 Budget 95 N1 0PS Street 12 Premier Inn London Archway Premier Inn 2016 Budget 163 N19 5DD Hamlyn House 13 Premier Inn London King's Cross Premier Inn 2004 Budget 287 N1 9AA 26-30 York Way 164-170 Kings Cross 14 So Kings Cross Independent 2 41 WC1X 9DF Road

15 South Place Hotel Independent 2012 5 80 EC2M 2AF 3-4 South Place

16 The Rookery Hotel Independent 1995 4 33 EC1M 6DS Peters Lane Page

86-88 Clerkenwell

17 The Zetter Hotel Independent 2004 4 59 EC1M 5RJ Road 104-122 Central 18 Thistle City Barbican Thistle 1968 3 463 EC1V 8DS Street 19 Tommy Miah's Raj Hotel Independent 3 41 N1 3PP 366 Essex Road 20 Travelodge London Central City Road Travelodge 2007 Budget 392 EC1Y 1AE 1-23 City Road 10-42 Kings Cross 21 Travelodge London Farringdon Hotel Travelodge 1973 Budget 219 WC1X 9QE Road 185-187 Isledon 22 Travelodge London Finsbury Park Travelodge 2016 Budget 104 N7 7JR Road Travelodge London Kings Cross Royal Scot 23 Travelodge 1972 Budget 408 WC1X 9DT 100 Kings Cross Road Hotel 24 Z Hotel Shoreditch Z 2015 Budget 111 EC1V 2RL 136-144 City Road 49-50 St Johns 25 Zetter Townhouse Clerkenwell Independent 2011 4 13 EC1V 4JJ Square Hostels & Others Guest 1 FMC Christian Guest House Independent 1893 41 N5 2BJ 20-26 Aberdeen Park House 2 Clink78 Clink Hostels Hostel 500 WC1X 9QG 78 King's Cross Road Serviced Apartments 105 Seven Sisters 1 Milestone Apartments Independent Apts 22 N7 7QP Road 2 Blueprint Living Apartments Independent 2011 Apts 14 EC1M 5RR 66 Turnmill Street Bridgestreet 3 Edge by BridgeStreet Worldwide Apts 3 EC1V 4JX 15 Brewhouse Yard Accommodations 4 Gazzano Apartments by Skyline Skyline 2015 Apts 10 EC1R 5HH Farringdon Road 5 Lodge 33 Independent Apts 38 N7 0RB 33 Anson Road 376-380 Camden 6 Native Camden Native Apts 36 N7 0LG Road 7 Oakwood Farringdon Oakwood Apartments 2011 Apts 48 EC1V 4DG 2 Brewhouse Yard 8 So Arch Independent 2013 Apts 20 N19 5RR 1 Pemberton Gardens

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

9 Supercity Rosebery Independent 2012 Apts 58 EC1R 4RX 20 Rosebery Avenue 19-25 Cowcross 10 Zinc House City Apartments Apts 14 EC1M 6DH Street Student Accommodation 44-45 Newington 1 Alliance House Sanctuary Student 213 N16 9QH Green 2 Bloomfield Court AXO Student living 171 N7 6JP 556 Holloway Road 3 Canto Court CRM 164 EC1V 9BD 122 Old Street 4 Chapter Highbury Chapter 323 N7 9DS 309 Holloway Rd 5 Chapter Highbury 2 Chapter 212 N7 9DS 309 Holloway Rd 6 Chapter Islington Chapter 577 N7 9AW 32-34 Market Rd 7 Chapter King's Cross Chapter 1049 N1 9JP 200 Pentonville Rd 8 Charles Morton Court Collegiate AC 92 N16 9BS 37-43 Green Lanes Queen Mary, University 9 Charterhouse Square, Dawson Hall 207 EC1M 6BQ Rutland Place of London 189-205 Pentonville 10 Dinwiddy House Sanctuary Student 510 N1 9NF Rd 11 East Central House Unite Students 146 EC1V 3RH 115 Lever St 12 Elizabeth Croll House Unite Students 102 WC1X 9AX 27 Penton Rise 13 Herbal Hill Studios Herbal Hill 47 EC1R 5EG 8 Herbal Hill 14 James Lighthill UCL 212 WC1X 9EN 3 Penton Rise 15 Liberty Court Liberty Living 291 EC1M 5HD 16 Briset St

16 Liberty House - Sebastian Street Liberty Living 188 EC1V 0HF 1 Sebastian St

17 Liberty House - St John Street Liberty Living 342 EC1V 4AT 218 St John St

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18 New Hall Calendonian Road UCL 350 N7 9GU 465 Caledonian Road

19 Newington Court LHA London 188 N16 9DE 173 Green Lanes 20 Paul Robeson House Sanctuary Student 260 WC1X 9EH 1 Penton Rise 21 Paul St East HOST Students 458 EC2A 4JH 18 Paul Street 457-463 Caledonian 22 Piccadilly Court Unite Students 204 N7 9BJ Rd 23 Pure City Pure Student Living 785 EC1V 3PE 11 Bastwick St 24 Pure Highbury Pure Student Living 400 N7 7JR 201 Isledon Rd London School of 25 Rosebury Hall Economics and Political 305 EC1R 4TY 90 Rosebery Ave Science University of the Arts 26 Sketch House 475 N4 3JP 36 Clifton Terrace London Smart Student 27 Smart Student Accommodation 62 N7 7PH 3-5 Thane Villas Accommodation 28 Stapleton House Unite Students 862 N7 8FB Holloway Rd 29 Student Living Heights Unite Students 136 EC1V 7AF 312 Goswell Rd Guildhall School of 38 - 42 Chigwell 30 Sundial Court 177 EC1Y 4SB Music and Drama Street iQ Student 385-401 Holloway 31 iQ The Arcade 370 N7 0RY Accommodation Rd Student Housing 29-30 Glasshouse 32 Therese House 247 EC1A 4JN Company Yard iQ Student 33 Tufnell House 707 N7 0EG 144 Huddleston Rd Accommodation 34 Willen House Derwent Students 157 EC1V 9EL 8-26 Bath Street Source: CBRE Research, AM:PM Hotels 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Table 4: Pipeline – Islington PROPERTY TYPE BRAND OPENING GRADE UNITS/BEDS POSTCODE ADDRESS PLANNING REF PHASE Hotels 55-56 White 1 55 White Lion Street Independent TBA 3 15 N1 9PP P2016/3609/FUL Planning Lion Street easyHotel London Old 80-86 Old 2 Street / Barbican easyHotel TBA Budget 15 EC1V 9AZ P2017/0290/FUL Planning Street (Extension) easyHotel London Old 80-86 Old 3 Street / Barbican easyHotel TBA Budget 7 EC1V 9AZ P2018/1744/FUL Planning Street (Extension) Hotel Indigo London 1 Lamb's Final 4 Hotel Indigo TBA 4 61 EC1Y 8TE P2016/0488/FUL Barbican Passage Planning 66-86 hub by Final 5 hub London Farringdon TBA Budget 171 EC1R 0BD Farringdon P2015/1958/FUL Premier Inn Planning Road Final 6 NHOW London NHOW 201909 4 190 EC1V 2QQ 250 City Road P2015/2451/RMS Planning 96-100 In 7 Yotel London Clerkenwell Yotel 201906 3 212 EC1M 5RJ Clerkenwell P2014/0373/FUL Construction Road Proposed Premier Inn 240 Seven Premier Inn TBA Budget 192 N4 2HX Hotel Sisters Road Serviced Apartments 116-118

1 Citadines Islington London Citadines 201906 Apts 108 N1 1AA P2015/5235/FUL Planning 9

Upper Street

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Source: CBRE Research, AM:PM Hotels 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Appendix 3: Airbnb 6.1. Based on Inside Airbnb, within a 500-metre radius surrounding the Site, there are a total of 123 Airbnb listings. This compares to 3,288 Airbnb listings within Islington borough.

6.2. Map 3 shows Airbnb listings within the 500-metre radius surrounding the Site and Map 4 shows Airbnb listings within Islington borough.

Map 3: Airbnb listings – 500-metre radius

PROPOSED HOTEL

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Source: Inside Airbnb 2018 Map 4: Airbnb listings – Islington

PROPOSED HOTEL

Source: Inside Airbnb 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

6.3. When comparing the density of Airbnb listings to the two other junctions analysed, we can conclude that both Angel (203 listings) and Clerkenwell (270 listings) have a higher density of Airbnb stock, which is in line with the concentration of hotels and other similar uses (such as other visitor accommodation, hostels and student accommodation). The following maps show concentration of Airbnb listings within a 500- metre radius of the two junctions considered. Map 5 shows Angel and Map 6 shows Clerkenwell.

Map 5: Airbnb listings – Angel

Angel Junction

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Source: Inside Airbnb 2018 Map 6: Airbnb listings – Clerkenwell

Clerkenwell Junction

Source: Inside Airbnb 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

6.4. Table 5 summarises Airbnb listings by type for Islington borough and 500-metres surrounding the proposed Hotel, Angel and Clerkenwell.

Table 5: Airbnb listings by type – 500-metre radius and Islington 500 metres surrounding ISLINGTON BOROUGH PROPOSED HOTEL ANGEL JUNCTION CLERKENWELL JUNCTION Entire Home/Apartment 1,831 58 113 163 Private Room 1,415 64 90 106 Shared Room 42 1 - 1 Total 3,288 123 203 270 Source: Inside Airbnb 2018 6.5. This research is, however, restricted by some limitations. The third-party data supplier used, Inside Airbnb, is a non-commercial supplier that provides only publicly available information on Airbnb listings. The data presented by Inside Airbnb is also only a snapshot of listings available at a particular time, which timing is not publicly disclosed. In addition, given that listings are anonymised by Airbnb, locations for listings on the map provided by Inside Airbnb can vary by as much as 150 metres from the actual address. This can have an impact on the number of total listings considered for the 500-metre radius surrounding the proposed Hotel and the junctions considered.

6.6. Since February 2018, Airbnb allows professional hospitality providers, including hotels and hostels, to list room stock on Airbnb’s website. This could result in visitor accommodation being included in the overall Airbnb listings showed in the above Table 5. Such as, during our analysis, we found a deluxe en-suite in

Pure Highbury (a student accommodation unit located within the 500 metres under assessment) listed on

Airbnb.com during an analysed period of time. However, this is the only visitor accommodation that we 12

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found double listed within a 500-metre radius surrounding the proposed Hotel.

6.7. We maintain the position that there is no over-concentration within the 500-metre radius surrounding the proposed Hotel. In line with our analysis of hotels and other visitor accommodation (excluding Airbnb listings), concentration of Airbnb stock is higher around junctions considered (i.e. within Angel and Clerkenwell), which carry similar characteristics of being transportation hubs and can thus be compared to the area under review.

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Appendix 4: Political Commitment, Development Frameworks and Policies

The Finsbury Park Accord1 6.8. Finsbury Park has been recognised as a significant area of regeneration potential, driven by the existent excellent and conteineously improving transportation links and the area’s multicultural community.

6.9. In 2012, the Leaders of Islington and Haringey and the Mayor of Hackney committed to the Finsbury Park Accord. This collaboration aims to realise the area’s full potential by providing jobs and homes.

6.10. All three boroughs are committed to achieve long-term regeneration goals, which also involve reducing crime and anti-social behaviour. The aim is to establish a safe environment for residents and tourists alike.

Finsbury Park Development Framework: Supplementary Planning Document (2015)2 6.11. The Supplementary Planning Document (SPD) for Finsbury Park, one of the Accord’s eleven key priorities, was introduced in 2015 to guide future development of Finsbury Park Town Centre.

6.12. The Site (240 Seven Sisters Road, N4 2HX) sits within the Finsbury Park Development Framework SPD area. The proposed Premier Inn Hotel will address the core vision with the following:

1.4.1. “Islington Council wishes to see future development proposals contribute positively to the local environment, building upon the framework area’s strong character and capitalising on its unique characteristics. New development will contribute to the further development of the framework area as the

commercial and cultural heart of Finsbury Park, reflect the area’s status as a District Town Centre and 13

focus for investment, respect existing townscape context and contribute to the area’s vitality and

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vibrancy.”

6.12.1. Hotel openings are known to be an anchor for city regeneration schemes. Whilst Premier Inn is not a prime brand for placemaking, it will contribute positively to the area’s appeal.

6.12.2. Generally, the opening of branded hotels is known to contribute to micro-markets’ attractiveness for further hotel and other commercial development. Shoreditch is a prime example for this in London.

6.12.3. District Town Centres require adequate accommodation facilities for visitors. Yet the micro-market (500- metre radius) surrounding the Site lacks in branded hotels, besides the nearby Travelodge asset.

6.12.4. The opening of a Premier Inn Hotel will contribute to the area’s vitality by establishing a safe area around the Asset. Envisaged contemporary design would add to the area’s vibrancy.

1 https://www.islington.gov.uk/~/media/sharepoint-lists/public- records/planningandbuildingcontrol/publicity/publicconsultation/20132014/20130607finsburyparkaccord.pdf 2 https://www.islington.gov.uk/~/media/sharepoint-lists/public- records/planningandbuildingcontrol/publicity/publicnotices/20142015/20150316finsburyparkdevelopmentframeworks pd.pdf

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Islington’s Local Plan: Development Management Policies (2013)3 6.13. The Development Management Policies were introduced in June 2013 to complement the spatial and strategic policies from Islington’s Core Strategy from 2011.

6.14. This includes policies for hotel developments. The potential opening of a Premier Inn Hotel will fulfil the following:

DM4.11: “A. Hotels and other visitor accommodation are generally appropriate in the locations specified in the following hierarchy: 1. Designated Town Centres; and 2. Areas within the Central Activities Zone that are within the designated City Fringe Opportunity Area or are in close proximity to national railway hubs.” 6.14.1. The Site is situated within one of Islington’s designated Town Centres (i.e. Finsbury Park Town Centre). See Map 2 in Appendix 2.

6.14.2. The proposed Hotel will be also located within Finsbury Park’s Central Activities Zone, within the designated City Fringe Opportunity Area. See Map 3 on following page 12.

6.14.3. Additionally, the Hotel will be located close to Finsbury Park station, a key transportation hub in North London, hosting National Rail, London Underground and Thameslink services.

DM4.11: “B. Proposals for new hotel and visitor accommodation (including ancillary hotel and visitor accommodation) will only be supported where they:

i) contribute to the balance and mix of uses in the immediate locality;

ii) support the area's primary retail/business/cultural role and do not compromise economic function/growth; (…) 14

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iv) have excellent access to a range of public transport modes; (…) vi) incorporate ancillary facilities which are open for public use and create employment opportunities for local residents, such as restaurants, gyms and conference facilities (where appropriate); 6.14.4. The micro-market surrounding the Site is characterised by small shops, restaurants and cafes, a gym and places of worship. The area yet lacks in branded hotel accommodation besides the Travelodge asset.

6.14.5. The potential opening of a Premier Inn Hotel would thus support and diversify the area’s current commercial business mix.

6.14.6. Excellent access to a range of public transport is granted by nearby Finsbury Park station (see 6.7.3.) and various bus stops being in close proximity to the Site.

6.14.7. Whilst F&B facilities will be limited, they will be open for residents and non-residents. Also, the proposed Premier Inn Hotel could create indirect employment opportunities.

3 https://www.islington.gov.uk/~/media/sharepoint-lists/public- records/planningandbuildingcontrol/publicity/publicconsultation/20132014/20131211developmentmanagementpolici esadoptedjune2013.pdf

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Islington’s Core Strategy (2011)4 6.15. The SPD cannot be considered in exclusion. The London Plan and Islington’s Local Plan, including Islington Core Strategy, need to be considered when analysing the potential opening of a Premier Inn Hotel.

6.16. Islington Council Core Strategy, adopted in 2011, includes a dedicated policy for Finsbury Park (Policy CS 2). The Site sits in the core focus area (see Map 7), combining:

i. Key area; ii. Area to improve public realm; iii. Development area – housing, retail, leisure, employment. Map 7: Finsbury Park Key Diagram

PROPOSED HOTEL

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Source: Islington Council 2011 6.17. The potential opening of a Premier Inn Hotel will address at least one core objective of Policy CS 2: CS 2/F: “The historic character of the area will be protected and enhanced with high quality design encouraged so that it respects the local context of Finsbury Park and its surroundings.”

6.17.1. Newly opened Hotels under the Premier Inn brand typically follow contemporary building designs, yet being respectful and appropriate to local heritage and streetscape.

6.18. In addition, the proposed Hotel will address one core objective of Policy CS 14, regarding ‘Retail and Services’:

CS 14/G: “Hotels and visitor accommodation will help to support the retail and service economy. The appropriate location for hotels and other visitor accommodation is within town centres. (…)”

6.18.1. The proposed Premier Inn Hotel will support surrounding commercial businesses by ensuring passenger traffic from and to the Hotel.

4 https://www.islington.gov.uk/~/media/sharepoint-lists/public- records/environmentalprotection/qualityandperformance/reporting/20112012/20120303corestrategyfebruary2011.pdf

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Appendix 5: Regeneration Projects

Table 6: Key Regeneration Projects – Finsbury Park City North, Finsbury Park ① Woodberry Down ② Type Mixed-use (residential & commercial) Mixed-use (residential-focus) 335 homes (incl. 47 affordable homes), 109,000 5,500 homes (incl. 41% for social renting and Total size (homes/sq. ft.) sq. ft. commercial space shared ownership); 34 ha in total Status Under construction Under construction Opening Year 2020 2031 Developer Telford Homes Berkeley Group Distance from site (metres) 185 1,350 Two towers, one linear building; residential units Largest regeneration project in Hackney; former (incl. affordable homes), commercial tenants include social housing estate; mixed-tenure residential a cinema operator, retail, restaurants, fitness centre Details district; new public square with commercial units, and supermarket; the scheme will host a new three new public parks, community centre and entrance to Finsbury Park underground station and library, primary school and children’s centre. a new western station ticket hall. Sources: CBRE Research, Telford Homes, Berkeley Group, Hackney Council 2018

Map 8: Hotels and similar uses (such as other visitor accommodation, hostels and student accommodation) –

Islington

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PROPOSED HOTEL

Sources: Google Maps, Telford Homes, Berkeley Group 2018

PROPOSED PREMIER INN HOTEL, 240 SEVEN SISTERS ROAD, LONDON N4 2HX – CONCENTRATION SURVEY OF HOTELS AND SIMILAR USES (SUCH AS OTHER VISITOR ACCOMMODATION, HOSTELS AND STUDENT ACCOMMODATION)

Appendix 6: Finbsury Park Market Characteristics 6.19. Finsbury Park has seen major development in recent years. Now considered as a key town centre in North London, the area is known to be vibrant, dynamic, relatively affordable and well-connected. It is a multi-cultural hub, hosting a variety of restaurants, cafes and shops, reflecting this diversity. The area benefits from ‘Finsbury Park’, one of the largest open green spaces in London.

6.20. Finsbury Park station is a major transportation hub in North London, hosting National Rail, London Underground and Thameslink services. Piccadilly line departing from Finsbury Park station is ensuring quick access to Heathrow Airport. Annual entry and exit for the Underground station alone was recorded at 31.22 million in 2017. This is in comparison to 19.20 million at Angel Underground station in the same year.

6.21. Thameslink services run to London King’s Cross and St Pancras International since February 2018. This has been ensuring quick access to Luton and Gatwick Airports, benefiting both residents and tourists. The station is currently under development as part of the City North scheme (see Appendix 5). This is expected to further increase passenger traffic once open.

6.22. Finsbury Park serves as a gateway to key demand generators, including Emirates Stadium and Arsenal Museum. Emirates Stadium, being London’s third largest football stadium in capacity-terms (nearly 60,000 people), not only serves as a football venue but is also used as a location for hosting conferences, reality shows and music concerts. Also, Finsbury Park hosts numerous events throughout the year, including the Wireless Festival, which has been taking place at Finsbury Park since 2014.

6.23. Islington and surrounding boroughs are committed under the Finsbury Park Accord (see Appendix 4) to

further develop the area as a desirable destination for residents and tourists alike. Additionally, key 17

regeneration projects, including City North and Woodberry Down (see Appendix 5), will further contribute Page

to the area’s appeal as a safe and vibrant environment.