The Association of Serviced Apartment Providers (ASAP) said the Tower Bridge development, which opened on Monday, would ‘extend the serviced apartment sector’s reach and appeal’ into new corporate and leisure markets.
"I am delighted to congratulate Cheval Residences on the opening of Cheval Three Quays which marks a landmark moment in the development of serviced apartments in the UK,” said ASAP managing director James Foice.
Luxurious London
The development, by Cheval Residences, consists of 159 apartments, with a riverside restaurant on the ground floor that can be accessed from the North-side River Walkway.
Aimed at the luxury end of the market, the one, two and three-bedroom apartments feature Classic Lyndon furniture, Italian Dada kitchens, solid wood floors, silk rugs, individual London artwork and 300-thread count sheets.
They also have floor-to-ceiling windows and balconies for unobscured views of Tower Bridge, the Shard and the Tower of London.
Guests are greeted with a welcome hamper filled with British and local products, and there is a dedicated concierge service to handle guest requirements, daily housekeeping and a newspaper delivery.
“With careful long-term planning since Cheval Residences first acquired the site in 2002, every detail into what the future business and leisure traveller are looking for in a luxury home from home serviced apartment experience has been carefully thought through and researched,” said Foice.
Serviced apartments
Experts predict that the UK’s serviced apartment sector will see big growth over the next five years, and London has been identified as a key location for investment.
According to a recent report from Savills, the sector is moving away from reliance on its traditional long-stay market, with operators looking to capture a greater share of short-stay spend.
As a result there are more branded developments in the pipeline, and companies like StayCity and Think Apartments are planning to open hundreds of new apartments over the next few years.
There has also been growth in luxury-end serviced apartments, with Apple Apartments opening in Greenwich last year and Old Town Chambers opening in Edinburgh last month.