Developer Dominus, in partnership with Cheyne Capital, will transform Ibex House into a 382-key full-service hotel.

Built between 1935 and 1937, the Grade II-listed building at 42–47 The Minories sits close to Aldgate, Fenchurch Street and Tower Hill and is regarded as one of the City’s standout Art Deco commercial buildings.

The approved scheme will see the vacant offices repositioned as a market-leading hotel designed by Studio Moren, with a heavy emphasis on retention and reuse.

Plans keep 100% of the existing substructure and around 90% of the superstructure, cutting embodied carbon while restoring key historic features.

More than 50,000 sq ft of public areas are planned, alongside a large conference centre with ballroom and flexible meeting spaces, a new café and the restoration and reopening of the historic Peacock pub at ground level.

The development also includes a new on-site Hospitality Academy, delivered in partnership with Springboard, aimed at training local people and those facing barriers to employment.

The hotel is scheduled to open in late 2028 and will be operated by Dominus’ in-house hotel platform as it continues to grow its central London portfolio.

Preet Ahluwalia, chief executive officer at Dominus, said the scheme would bring a long-vacant building back into productive use while celebrating its Art Deco heritage.

The wider professional team includes Iceni Projects, Meinhardt Group, Spacehub, Pell Frischmann, Montagu Evans and Concilio.