By Kristina Moskalenko
Step inside the most extraordinary private hotel in London
Once a fortress of finance, The Ned now stands as a dazzling tribute to reinvention. Housed in the former Midland Bank headquarters in the heart of London’s financial district, this hotel doesn’t just offer rooms — it offers atmosphere, history, and a touch of cinematic glamour.
Theatre begins with a coat check. A hotel, if you’re at The Ned, begins with a massive steel vault door — the original entrance to what was once one of the UK’s most secure money vaults. While some assume the name The Ned is a sly nod to The End, nothing could be further from the truth. In fact, The Ned represents a kind of new beginning — not just for this building, but for the entire City of London. Nothing else like it exists in this historic square mile, where money has been made since the late 1500s. For that matter, nothing else like it exists anywhere in London.
The building once served as the headquarters of Midland Bank. Bond fans may recognize it — it stood in for Fort Knox in the 1964 classic Goldfinger, doubling as the U.S. gold reserve for one of the film’s most iconic heist sequences.
Constructed between 1924 and 1939, the building was conceived as one of the most opulent banking halls in the world. According to legend, its architect — the famed British neoclassicist Edwin Lutyens — began signing his name as “Ned” after marrying Lady Emily Bulwer-Lytton. Another version claims “Ned” was his childhood nickname, used by his parents and nine siblings. Whatever the truth, the official story holds that The Ned is named in his honor: a tribute to the man who built this “Palace of Finance.”
The building’s later history is less romantic. After Midland Bank was absorbed by HSBC, its headquarters moved elsewhere, and from the 1990s on, this architectural gem passed from hand to hand, its eight above-ground floors and three subterranean levels sitting mostly empty.
That is, until 2006, when the building was purchased by Vladimir Chernukhin, former Russian Deputy Minister of Finance. It remained dormant until 2012, when Nick Jones — founder of the Soho House private members’ club empire (and host of Prince Harry and Meghan Markle’s first date) — walked through its forgotten halls and saw the future.
Jones knew immediately: he’d found the perfect canvas for his next grand vision.
“I was struck by the scale — over 29,000 square metres — and by the sheer number of original architectural details,” he recalls. “It was the most beautiful building I had ever seen.”
But Jones also understood that Soho House & Co — with its 18 clubs and 37 restaurants — couldn’t bring this colossal dream to life alone. That’s when his key investor, billionaire Ron Burkle, stepped in. Burkle introduced Jones to Andrew Zobler, CEO of the Sydell Group, the hospitality powerhouse behind eight North American hotels, including The Line in Los Angeles, Freehand in Miami, and Manhattan’s beloved NoMad.
“NoMad opened in a part of New York where tourists rarely ventured,” Jones explained in interviews. “But its Parisian-inspired take on New York style transformed that corner of the city into a destination. I hoped The Ned could do the same for the City of London.”
And in 2017, after four years of meticulous renovation and a £200 million investment, The Ned finally opened its doors.
Of course, there were surprises. Guests, passing through a beautifully preserved vintage hat room, didn’t arrive in a typical hotel lobby. Instead, they entered an 850-seat food hall set within the building’s original banking hall — a soaring, marbled cathedral from an era when ladies wore gloves to cash cheques, and gentlemen arrived in bowler hats.
But that’s not all. Before guests could even begin to navigate the maze of menus and cuisines on offer, they first had to find their bearings — a journey that led them through a forest of green Corinthian columns clad in verdite, and past the original tellers’ counters from the building’s banking days.
These counters, protected under Grade I listed status for their “exceptional interest,” still radiate the scent of money — competing now with the richer aromas of global cuisine. The grand hall hosts eight restaurants, each representing a different corner of the culinary map: the legendary Italian Cecconi’s, California’s sun-kissed Malibu Kitchen, the very British Millie’s Lounge, the Asian-inspired Kaia, and the Parisian Café Sou & Bar, among others. Sundays are for indulgence: lobster, oysters, charcuterie, desserts, Champagne, and cocktails — all laid out buffet-style. Vegetarian options, of course, are part of the menu.
At the heart of this feast: a bar and a live stage, where music and dancing spill into the evening.
It’s worth noting that the restaurants are open to the public — and have quickly become favourites among City workers. But as The Ned is also part of a private members’ club empire, a degree of exclusivity still reigns. The hotel functions as both a public-facing venue and a private club, with members enjoying access to spaces and services reserved for hotel guests and fellow club insiders.
Membership comes in various tiers, offering access to different parts of the club depending on your preferences and lifestyle. But some areas remain strictly for those in the know: the rooftop pool with jaw-dropping views of the City and St Paul’s Cathedral (from which, it’s joked, one could splash Champagne down onto the head of the Bank of England’s governor), along with the upper-level restaurants and bars, are open only to guests and members.
Then there are the private meeting rooms, spa, gym, nail bar, hair salon, hammam, physiotherapy and osteopathy services, IV drips for everything from vitamin boosts to hangover cures — all of it accessible with your room key or member’s card.
And finally, the pièce de résistance: a colossal 20-tonne circular door — the original entrance to the building’s former vault — now swings open only for those with the right credentials. Behind it lies The Vault bar, decadent and defiant in its secrecy.
For the high-flying elite, there’s the Chairman’s Suite — reachable directly from the lobby via its own private lift. And for those still in their roaring twenties, the cheekily named Crash Pad offers a stylish place to land after a long night out.
To some extent, The Vault bar serves as The Ned’s calling card. Within the old vault, 3,600 metal safe deposit boxes remain, once used by ladies and gentlemen to safeguard their jewelry, wills, and secrets. The silvery-matte metal interior takes on a strikingly quirky character, enhanced by large taxidermy birds from collectors’ troves and vibrant antique furnishings, including rare pieces from Asia. The theatrical atmosphere is complete — hotel guests and London members mingle, exchanging business cards and stories.
Speaking of furniture, The Ned’s décor deserves a story of its own. All 252 rooms, designed by Adam Greco, are furnished with authentic antiques from the 1920s and ’30s, alongside bespoke pieces from Soho House’s own collection.
Rooms are divided into 12 categories, each varying in price and inspiration. For instance, the Chairman’s Suite boasts a private lift direct from the lobby, while the Crash Pad is designed for those under thirty. Particularly charming are the Cosy rooms, which evoke the glamour of transatlantic ocean liners. Vintage bathroom fixtures and cocktail-making kits add a final touch of aesthetic delight.
The mix of modern and original vintage pieces means that every room has something unique. Some rooms are papered with authentic 1920s wallpaper; others feature wooden bathroom paneling reminiscent of Lord Booth’s castle in Cardiff; and yet others are adorned with Oriental rugs or palm-shaped lamps—a nod to Latchens, who designed New Delhi, including the Rashtrapati Bhavan palace.
“City is just as vibrant a part of town as Soho,” says Jones. “Only it looks much better. It’s the engine room of the capital’s commercial life, but given that the City covers just about one square mile, you could say the cultural life here really pulses. Plus, this part of town is developing rapidly.”
And, of course, with its rich history, lavish décor, distinctive architecture, refined urban taste, and gentlemanly aesthetic, The Ned instantly became a magnet in the heart of London. So if the modern City has a soul, you’ll find it here.
Originally published at: https://www.vedomosti.ru/kp/journey/article/2020/06/03/831821-bar-vmesto-seifa#/galleries/140737494861687/normal/1
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