Jastar Capital vehicle Custom House City Limited, advised by Montagu Evans, has submitted plans for the refurbishment and redevelopment of the Grade I-listed Custom House on Lower Thames Street in the City of London as a luxury hotel and events space.
An example of neoclassical architecture located at the historic Pool of London, Custom House has been at the centre of British overseas commerce and was the home of customs for more than 200 years until His Majesty's Revenue and Customs, the government's tax office, vacated the building in 2021.
On the north bank of the River Thames, it overlooks Tower Bridge and Hay's Galleria across its 2.4-acre site and comprises 150,481 square feet of net internal area.
Under the proposed plans, drawn up by Orms and Richard Griffiths Architects, the building would be brought back into use as a 179-bed hotel with spa and health facilities. A "food and beverage offer" would be housed in the King’s Warehouse and the Long Room would be an events space.
The plans include a public ground-floor route through the former King’s Warehouse including historic displays, galleries and an exhibition space in the West Wing, and a historical library in the former Tide Waiter’s Room.
A newly landscaped public quayside would also open up a stretch of the Thames Path and allow it to remain publicly accessible year-round. Two new terraces on the Central Wing’s southern elevation will create an outdoor café and restaurant area.
The proposals incorporate measures to reduce environmental impact, including upgrading the building’s thermal performance, introducing all-electric mechanical electrical and plumbing and delivering a net gain in biodiversity.
The plans have sought to preserve the Grade I-Listed custom House, as well as the Grade II* listed river Wall, stairs, and cranes along Custom House Quay, and to respect the neighbouring Eastcheap Conservation Area and Old Billingsgate Market, the company said. Since 2023,the proposals have evolved through engagement and consultation with officers at City of London Corporation, the King’s Foundation and key heritage stakeholders including Historic England, The Georgian Group, SAVE Britain's Heritage, London and Middlesex Archaeology Society and City of London Access Group, former Customs Officers, and the local community.
Jay Matharu of Jastar Capital said in a statement: “As long-term custodians, we are thrilled to put forward our plans to revitalise Custom House with welcoming community spaces, a heritage-focused hotel, elegant event spaces, exceptional dining experiences, a dedicated spa, and a dynamic quayside. We extend our sincere thanks to all the stakeholders who have helped shape this exciting proposal which will bring this iconic London landmark back to life.”
Gareth Fox, partner in Montagu Evans’ Central London Planning team, said: “These plans will bring an important London heritage asset back into viable use as a landmark hotel, restoring its former grandeur and opening it up to guests and the public alike. The new riverside public realm and cultural offer will make an enormous contribution to the Pool of London and the City of London’s Destination City initiative. Significant care has been taken to balance modern operational and sustainability requirements with respect for the building’s rich history.”
Jastar Capital bought the long leasehold interest in Custom House, 20 Lower Thames Street from Mapleley Steps, owned by Fortress Investment Management, at the time a subsidiary of SoftBank, for an undisclosed sum in 2023. The property was vacant at the time of sale.
In July 2022 an appeal by the previous owners for an earlier scheme was dismissed.
Jastar Capital, owned by Raj, Jay, Sindri, and Taran Matharu, was formed after a demerger at Grange Hotels. It owns various London hotels like Native Kings Wardrobe in the City and Hampshire establishments including the Victorian Gothic The Elvetham in Hook.