In a joint venture with investors Reignwood Group, KOP Properties plans to develop the Grade II listed building to include new homes, a hotel, restaurant, together with a club and spa. It is KOP Properties' first development in the European marketplace.
The proposed plans include the development of 41 "luxury serviced residences", the developer said. Plans also include a new 120 bedroom hotel with a restaurant and two bars and the development will be supplemented with a members' club and a spa.
"Our vision is for 10 Trinity Square to become a new global destination on the edge of the City of London," said Leny Suparman, KOP Properties' chief executive.
The "luxury serviced residences" will range in size from 1,300 square feet to 9,000 square feet. There will be a mix of two to four bedroom units and penthouses that will be situated on the third to the seventh floors of the development.
KOP Hotels & Resorts, part of KOP Group, plans to operate the hotel. It will be accessed from the ground floor and spread across the first three floors of Trinity Street, including eight suites of about 870 sq ft.
"The City of London is now universally recognised as an area of growth for residential real estate prices but opportunities for high quality developments are limited," said Charles Leigh, senior director at CBRE. "The location and the quality of the scheme, make a compelling argument for strong early growth."
The developers plan to begin work on the site towards the end of this year and hope to complete the scheme by the end of 2014.
