County Durham developer Premcor Estates has completed the sale of a prime Manchester site to pave the way for the construction of a new hotel.
The Barnard Castle private property company, run by Robert Lane and Simon Hawkins, has sold the 0.25-acre site on Rochdale Road in Manchester to hospitality company Whitbread for an undisclosed sum. Premcor has already secured planning permission for the 0.25-acre site, which will now be transformed into a 229-bedroom, 10-storey Premier Inn hotel.
Construction work on the hotel is set to start this summer and Leeds-based GMI is the main contractor.
Simon Hawkins, director of Premcor, said: “We are very proud that this prime site we owned and obtained detailed planning consent on has been sold during these challenging times for the commercial property market. It is in a superb location in the heart of Manchester’s Northern Quarter and close to Victoria Station.
“The combination of the Premier Inn brand and the vibrant Manchester hospitality scene should ensure that the new hotel proves to be extremely popular.”
Paul Smith, property acquisition manager for Whitbread, said: “Whitbread is a long-standing investor in Manchester with six popular Premier Inn hotels across the city centre and many more across the city region. Our investment in the Rochdale Road development site brings another 229-bedrooms into our secured development pipeline in a part of the city centre where we wish to expand our presence. The location ticks all the boxes for our guests and with Whitbread’s direct involvement in the scheme, we can guarantee the development will now proceed at pace.”
Premcor Estates, formed in 2018 by Mr Lane and Mr Hawkins, operates throughout the UK and currently has a 2 million sqft development pipeline, with a committed development programme valued at more than £800m.
Original artice – https://business-live.co.uk/all-about/yorkshire-humber
