The scheme, bought from Swiss Life Asset Management, will be designed by EPR Architects and developed by Citygrove.
Work is due to start in June 2027 and finish in March 2030, subject to planning.
The site at 203-208 Blackfriars Road is close to Southwark station and will house a mix of studio and one-bed serviced apartments with fully fitted kitchens. A café bar, lounge, shop and co-working space are planned at ground and mezzanine level.
The deal follows Staycity’s Wyvil Court, Vauxhall acquisition, adding to a central London pipeline now valued at over £800m.
Andrew Fowler, Staycity’s chief development officer, said the Southwark move marked a milestone, boosting Wilde’s capital presence alongside existing sites in Aldgate, Covent Garden, Liverpool Street and Paddington.
Staycity currently operates 6,500 aparthotel rooms with 4,500 more in the pipeline, signing around 2,000 keys a year across Europe.
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