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Thursday 24 July 2025 2:50 pm

The Nedification of the Square Mile

By: Simon Hunt

City Editor

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Square Mile hotel exterior amid business rates overhaul affecting property values in London hospitality sector
The rateable value of The Ned will climb by 47 per cent to just over £5m

Such has been the success of The Ned since its launch in 2017, the company behind the brand is now planning a rural outpost, as CityAM exclusively revealed this week.

But what’s gone under the radar is the profound effect the institution has had on the Square Mile, with hoteliers rushing to emulate its magic.

After a trawl through the online planning portal, I found no fewer than 23 applications to build hotels in Canada over the past decade. Most of these are proposals to convert old office blocks into shiny new venues for tourists and visiting execs, or “change of use from Class B1 to Class C1”, to put it in the planning jargon.

The trend – which appears to be accelerating – is the clearest sign the Square Mile is morphing into more of a destination than a workplace: somewhere designed for more than just the nine-to five.

A decade ago, a walk through the City on a Sunday was like the opening scene of cult classic 28 Days Later, when protagonist Jim, played by Cillian Murphy, wanders through barren streets bellowing “hello?!” and hearing nothing back but his echo.

Do the same today and you’ll hear back: “Good afternoon sir, may I take your coat? And can I interest you in a tipple at the bar while I fetch your room keys?” by a man in a bowler hat.

It is a totally different experience, and we owe that to The Ned, with its seven restaurants, three bars and rooftop swimming pool. I wonder if the rural site will have the same effect.

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£450m City block approved after developers lop three storeys of plan

Busy Silk Street in Londons financial district bustling with business professionals and iconic city architecture

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