Park Plaza hotels owner buys Waterloo’s Hercules House for £23.5m

PPHE Hotel Group – which operates the Park Plaza brand in Europe – has struck a deal with Mapeley Acquisition Co (Hercules) Limited (in receivership) for the 1.09-acre site.

Best known as the headquarters of the now-defunct Central Office of Information, the building is currently home to Natural England.

PPHE – which owns and operates the nearby Park Plaza County Hall, Park Plaza Westminster Bridge and Park Plaza Riverbank hotels – says it is considering a number of possible uses for Hercules House including continuing the current office use and the possibility of a new hotel being developed on all or part of the site.

"We are pleased with the acquisition of this site in central London and the unique opportunity it brings to the group," said Boris Ivesha, president & chief executive officer of PPHE Hotel Group.

"We have a strong track record of successful operations in London and this centrally located site is an excellent addition to our property portfolio."

Plans to acquire the building to be the permanent home of the Oasis Academy South Bank recently fell through and the free school will instead open this autumn at the nearby Oasis Centre in Westminster Bridge Road.