Dublin-based hotel company Dalata is expanding its footprint in UK with plans to open its fifth property in London under its Clayton brand.

Dalata, which has 50 hotels operating under its Maldron and Clayton Hotels brands, has acquired the four-star Apex Hotel London Wall in a £53.4 million deal, subject to approvals.

The existing 89-room property located on Copthall Avenue, in the heart of the City of London, will be rebranded as Clayton Hotel London Wall. The hotel features a gym, boardroom and a ground-floor restaurant and bar and is less than 10 minutes’ walk from Moorgate, Bank and Liverpool Street Stations.

The move follows the February acquisition of the 192-bedroom Maldron Hotel Finsbury Park for £44.3 million and builds on the group’s ambitious UK growth strategy, which now includes Clayton Hotel Chiswick, Clayton Hotel City of London and Clayton Hotel London Wall as well as Maldron Hotel Finsbury Park (opening in July) and Maldron Hotel Shoreditch, which is currently under construction.

Dalata CEO Dermot Crowley said: “London is one of the world’s great cities. Securing existing hotels or sites to develop new hotels is very challenging as a result. I am delighted that we have managed to secure two new hotels in the city in the space of just four months. It demonstrates our ability to re-invest the funds that we generate from our existing hotels.”

The group said its latest acquisition will require “minimal initial investment” upon completion of the transaction, which is expected in early July.