The company has signed a 25-year contract on a 100,000 sq ft space in the Wood Wharf development in Canary Wharf, which will finish construction in early 2021.
The 312-room NoCo will occupy the ground floor and levels four to nine of a red-brick building.
Ennismore first announced NoCo in 2016 as its bid reinvent the “boring” budget hotel experience, with nightly rates for under £100.
Guests will be able to book and check-in using an app, and each hotel will partner with local restaurant operators to develop its food and beverage offering.
The group plans to open 25 NoCo sites in key cities across the UK.
“We’re incredibly excited to launch our new hotel brand NoCo as part of a new era of the Canary Wharf estate” says Sharan Pasricha, CEO of Ennismore.
“Wood Wharf provides a location that matches with our mission to create an affordable hotel that will embrace technology, great value, and stylish design, as well as provide an open space to the new tenants of the estate.”
Ennismore bought the famous Gleneagles Hotel from drinks company Diageo in 2015, and also runs The Hoxton Hotel group.
The Wood Wharf scheme is currently under construction by the Canary Wharf Group, with the first phase of buildings set to be completed in 2019 and 2020.
It will include 380,000 sq ft of retail and leisure space, up to 3,600 homes, a primary school and a medical centre.