23/05/14
RO Real Estate, the UK commercial property investment and development company, has started the development of a £17 million aparthotel scheme at Newhall Square in Birmingham’s historic Jewellery Quarter.
RO
has secured a pre-let for the building with Staycity Serviced Apartments, one
of the leading serviced apartment providers in Europe. The 30-year lease is
part of an on-going expansion for Staycity, which already has over
1,000 apartments across eight European cities including Dublin, Edinburgh,
Liverpool, London Heathrow, London Greenwich, Manchester, Paris and Amsterdam.
The company is aiming to expand its operations to 5,000 apartments over the
next five years. RO Real Estate, the UK commercial property investment and development company, has started the development of a £17 million aparthotel scheme at Newhall Square in Birmingham’s historic Jewellery Quarter.
The 170-room aparthotel building will include a selection of studio and one and two-bedroom apartments all equipped with kitchens and ensuites. The asset will form part of RO’s wider Newhall Square mixed-use scheme, which comprises a mix of new-build and refurbished offices and hotels.
Elias
Topping, Buckley Gray Yeoman, Copeland Wedge Associates and Church House
Building Services are the design team, with GB Building Solutions appointed as
the contractor. The building is expected to be open in May 2015.
Richard
Bourne, head of RO Real Estate, said: “The Staycity development at Newhall
Square is in a prime central location
within the historic Jewellery Quarter and close to the Colmore Business
District, providing an ideal location for both leisure and business visitors.
“We
are very pleased to have secured a pre-let to such a high-calibre tenant as
Staycity and it is an endorsement of our ability to identify and deliver
attractive speculative developments.”
Staycity
CEO Tom Walsh said: “We are delighted to announce this deal, which is an
important part of our European expansion strategy. Birmingham is one of the
most important business and leisure centres outside London. This property will
give us a stronger foothold in the city as the demand for serviced apartments
grows.”
- Ends -
For further
information:
Richard Bourne, RO Real Estate
0207 025 1780
Faye
Walters / Jeremy Carey, Tavistock Communications
020
7920 3150
Notes to Editors:
RO Real
Estate is a privately-owned company specialising in commercial property
investment and development in the south east. It is the property division of
the RO Group, which has majority interests in businesses involved in
residential development, high-quality holiday lodge developments, domiciliary
and specialist care services and the development of utility-scale solar energy
projects.
