The group will transform the 58,000sq.ft site of the former North London Royal Mail centre into a £400m, 4.5 acre destination for London that will also provide 263 new homes, and leisure and retail facilities.
The serviced apartments will be located over four of the upper floors of the Edwardian building.
The scheme will provide a selection of brand-specific serviced studio suites and one bedroom apartments. They will each come with fully-fitted kitchens, living/dining areas, and bedroom suites with ‘luxurious’ bathrooms.
Giris Rabinovitch, chief executive of Sager Group, said: “Islington Square is one of the most prestigious regeneration projects in London, and will provide an exciting new Covent Garden style destination for the capital. The serviced apartments are perfectly located for business visitors and tourists alike. Users will be well served by public transport, with apartments located between Angel Underground and Highbury & Islington Station, as well as a number of bus services to The City and the West End from Upper Street.
“Serviced Apartment users will be in easy reach of the restaurants and bars in Islington Square, and will have use of the health club and cinema facilities at a special discounted rate. We are about to recommence discussions with a serviced apartment provider from the Far East in order to progress the delivery of this prestigious hospitality project.”