Whitbread has purchased a consented hotel development site on the edge of Manchester’s Northern Quarter from Premcor for an undisclosed price.
The site on Rochdale Road has planning permission for a 229-bedroom hotel set over 10 storeys.
Whitbread is anticipated to appoint GMI Construction Group to build the hotel for its Premier Inn brand with construction work expected to commence in summer 2024. The acquisition is part of Whitbread’s strategy of reconfiguring its network of hotels in Manchester city centre.
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. In line with our perfect portfolio investment strategy, we are in the process of reconfiguring our network of hotels across central Manchester to ensure we have the right number of bedrooms in the right parts of the city centre for our guests.
“Our investment in the Rochdale Road development site brings another 229-bedrooms into our secured development pipeline in a part of the city centre 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.”
Whitbread was advised by WSB property consultants. Premcor represented itself.
