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Robert De Niro hotel axed after finance row

Plans for a "brick-built hub for moneyed hipsters" lie in tatters

06 July, 2018 — By Tom Foot

Robert de Niro 

ROBERT De Niro’s plans to build a luxurious hotel “for moneyed hipsters” in Covent Garden have been scrapped.

The Oscar-winning actor had won planning consent to demolish six buildings behind the historic façades of Wellington, Tavistock, Burleigh and Exeter streets.

His investment company was due to open the 83-bedroom boutique hotel with Capco and BD Hotels.

But a statement from Capco said: “We have not reached satisfactory commercial terms with BD Hotels. The Wellington is a unique investment opportunity and we are reviewing our plans, which include proposals for office and retail space.”

Theatreland restaurant Joe Allen has already been forced to relocate last year due to the project.

The hotel was set to include two restaurants, a spa and a private members’ club, described as “a homely yet arty brick-built hub for moneyed hipsters looking to stay in a grand but relaxed New York home”.

It was approved by Westminster Council in 2016. At the time, Mr De Niro said it makes “perfect sense” to develop a hotel in Covent Garden.

Sarah-Jane Curtis, director of Capco Covent Garden, added that the venture would be a “new icon for the city”.

BD Hotels, run by Drukier and Born, is one of the biggest names in the New York boutique hotel sector, where its portfolio includes the Bowery and the Ludlow.

Mr De Niro already operates the Greenwich hotel in New York with partners Ira Drukier and Richard Born of BD Hotels.

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