Dominus and Cheyne Capital complete acquisition of landmark Ibex House in a joint venture

London, 18 December 2025 – Dominus, a leading developer, owner and operator in the hotel and student living sectors, and Cheyne Capital, the global alternative investment manager, have completed the acquisition of Ibex House, their second joint venture together.

Built between 1933 and 1937, Ibex House is a landmark Grade II-listed Art Deco building located moments from Aldgate, Fenchurch Street and Tower Hill. Currently a vacant office, the building offers an opportunity for sustainable reuse as a hotel that will make a significant contribution to the surrounding area.

Following public consultation, Dominus has submitted plans to transform the building into a high-quality 382-key hotel designed by Studio Moren. The proposals retain 100% of the building’s substructure and 90% of its superstructure, targeting BREEAM Excellent and alignment with the UK Net Zero Carbon Buildings Standard. The plans celebrate and retain its architectural style while activating the public realm.

At ground level, the proposals would open the building to the public, including a new café, the upgrading and reopening of the ‘Peacock’ pub and the creation of an on-site Hospitality Academy, delivered in partnership with The Springboard Charity, as part of a commitment to investing in the talent of the future.

The proposals support the City of London Corporation’s ‘Destination City’ growth strategy to attract more businesses, workers and visitors to the Square Mile, transforming it into a thriving, seven-day-a-week destination, at a time when demand for centrally located, thoughtfully designed hotels continues to grow.

Dominus’ recent strategy has focused on repurposing underutilised offices into alternative uses. In 2023 it acquired 5-10 Great Tower Street which is being converted into The Derby London City, Curio Collection by Hilton – a 234-key hotel opening in early 2026 that will join the portfolio of hotels managed by Dominus Hospitality.

Last week, Dominus secured consent to transform an existing telephone exchange into a 240-key hotel at 123 Judd Street in King’s Cross, Camden. Across the UK, Dominus has 3,800 student beds and 1,700 hotel rooms consented or in the pipeline, with plans to work with capital partners to scale this further.

Dominus and Cheyne Capital have previously partnered on the 2024 acquisition of 65 Fleet Street –  their first joint venture. Together they are delivering an 875-bed student living scheme while also restoring the Grade II-listed Tipperary pub, London’s oldest Irish pub, and the Grade II-listed Whitefriars Crypt.