Muse Developments and Stockport Council have signed a pre-let agreement with InterContinental Hotels Group (IHG) to take over a 115-bed hotel in the Greater Manchester town.
To be operated as Holiday Inn Express Stockport, the hotel is a key second-phase feature of the multi-million pound Stockport Exchange development, designed as a new gateway for Stockport town centre. As well as the hotel, due for completion in 2017, the current phase will deliver a 50,000 sq ft, five-storey office building.
“This agreement with InterContinental Hotels is a major milestone in the delivery of an exciting new mixed-use business district for Stockport,” commented Muse development director, Wes Erlam. “To have attracted an internationally-renowned hotel brand like Holiday Inn Express is great news for the town and for Stockport Exchange.
“It is important to have complimentary amenities as part of the Stockport Exchange scheme,” he added. “We already have the benefit of the pool and gym next door. The addition of a Holiday Inn Express constructed to the very latest design standards will be a great asset for the scheme, future occupiers and the town as a whole.”
Erlam explained the hotel’s contemporary design would reflect the town’s rich history and feature vertical fins to echo the nearby Grade II listed Victorian covered market hall.
Anna Corkill is UK and Ireland director of development for the hotel group. “We are delighted to be working with Muse Developments and Stockport Council on this project,” she said. “The Holiday Inn Express brand is one of the largest and fastest growing brands in the industry and we’re proud to welcome this well-located property into our portfolio.”
Part of the local authority’s ambitious “Investing in Stockport” programme, Stockport Exchange will create a new commercial district and business hub next to the town’s railway station.
The first phase of the scheme — a 1,000 space multi-storey car park operated by NCP — was completed last year and is now open. The second phase, including the hotel and office scheme, started last month with an autumn 2016 hand over date. When complete the entire regeneration project will offer 375,000 sq ft of new office space and 28,000 sq ft of commercial floor space.
“Stockport Exchange is a major part of the council’s strategy to reinvigorate Stockport, offering opportunities for both residents and businesses,” commented Patrick McAuley, an executive member for the “Thriving Economy” group within Stockport Council.
“We are thrilled to welcome Holiday Inn Express to our community here in Stockport at an exciting time for the town,”
“Its arrival dovetails nicely with our other development projects such as the Redrock leisure development and the Town Centre Access Plan, where work will see our vision for a revitalised town centre become reality.”
Cushman and Wakefield and CBRE have been appointed joint letting agents for the scheme.
CAPTION ONE: An image of the Holiday Inn Express Stockport, looking from Stockport train station.
Source: Muse Press Release
Birmingham: The New Place for Investors