Plans to demolish a Croydon hotel which was one of the council’s “risky” investments and replace it with a 39-storey block of flats have been submitted.

A planning application has been sent to Croydon Council for 455 build-to-rent flats.

Of the flats, 68 would be offered at 30 per cent below market rent and 19 would be London Living Rent which in Addiscombe West has been set at a maximum of £1,161 for 2023/24.

Amro Partners bought the 200-room hotel from Croydon Council for £25 million.

The local authority originally bought the hotel for £30m in 2018 and went into administration in July 2020.

The “risky” investment was deemed “inherently flawed” by the council’s own auditors Grant Thornton.

The plans include a community space on the ground floor and a communal garden at street level.

It also includes a roof terrace on the 38th floor. 

The development includes 54 car parking spaces of which 15 would be accessible.

The developer previously referred to the building asThe Lilibet – the childhood nickname of Queen Elizabeth II.

However, it has now dropped this name and images show it would be called Botantical House.

The application said: “We consider that the development proposal will bring a number of key public benefits [including the] redevelopment of a brownfield site within a highly accessible location within Croydon Opportunity Area and Croydon town centre, with high residential potential and strategic area for regeneration in the London Plan, to deliver new Build to Rent homes alongside community floorspace, new public realm and landscaping.”

Public consultation on the plans closes on March 30 and Croydon Council is due to make a decision by June 5.

The full plans are available on the authority’s planning portal with the reference number: 23/00872/FUL.