Thursday, April 15, 2021
  • ABOUT US
  • WEBMAIL
  • GENSOCIAL
Genesis Radio Birmingham
  • HOME
  • NEWS
    • ALTERNATIVE NEWSNEW
    • ENTERTAINMENT NEWS
    • FOOD NEWS
    • HEALTH NEWS
    • MOVIE TRAILERS
    • LOCAL NEWS
    • MUSIC NEWS
  • WHATS ON
  • GENSOCIAL
  • GENESISTV
  • BEATZCLOUD
No Result
View All Result
Genesis Radio Birmingham
  • HOME
  • NEWS
    • ALTERNATIVE NEWSNEW
    • ENTERTAINMENT NEWS
    • FOOD NEWS
    • HEALTH NEWS
    • MOVIE TRAILERS
    • LOCAL NEWS
    • MUSIC NEWS
  • WHATS ON
  • GENSOCIAL
  • GENESISTV
  • BEATZCLOUD
No Result
View All Result
Genesis Radio Birmingham
No Result
View All Result
Home Local News

Nikal strikes new funding deal for Premier Inn hotel complex

Genesis Radio by Genesis Radio
25 November 2020
in Local News
0 0
0
Nikal strikes new funding deal for Premier Inn hotel complex
4
VIEWS
Share on Facebook


A finance deal has been finalised to fund the development of a new hotel complex in Birmingham city centre.

You might also like

Outdoor adventure specialist Peak signs deal to reopen Staffs education centre

Virgin Media and O2 merger takes step forward as CMA ‘provisionally clears’ deal

ASOS appoints XPO Logistics to manage new Staffordshire warehouse

Developer Nikal has agreed the funding package for part of phase two of Exchange Square which will see the construction of a 15-storey Premier Inn hotel with 235 bedrooms.

There will also be a 6,000 sq ft Bar + Block Steakhouse restaurant, 5,000 sq ft of retail units and a new half-an-acre public square, with 90 new jobs set to be created.

The funding has been agreed with a client of LaSalle Investment Management. Although terms have not been disclosed, the second phase of Exchange Square has a development value of £120 million.

BusinessLive is your home for business news from around the country – and you can stay in touch with all the latest news through our email alerts.

You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we’ll send out breaking news alerts for any stories we think you can’t miss.

Visit our email preference centre to sign up to all the latest news from BusinessLive.

A 37-storey apartment block containing 375 units to rent is also being developed at the site in The Priory Queensway to complete phase two.

Earlier this year, Nikal signed contracts with Grainger, the listed residential landlord and private rented sector specialist, for the funding and delivery of the tower after first announcing a £77 million deal in 2018.

Construction staff are already on site doing groundworks and the overall project is due to be completed in summer 2022.

It will occupy a prime city centre location due to its proximity to Moor Street and New Street stations as well as overlooking HS2 in Curzon Street when it completes.

Richard Fee, chairman of Manchester-based Nikal, said: “This is a market leading and market defining deal, all done during the covid pandemic. The local area is getting ready for the arrival of HS2.

“It is clear that LaSalle Investment Management share our vision for this area of Birmingham and we are delighted to be working with them again.

“This transaction shows the resilience, pragmatism and professionalism within the UK property industry at its best.”

Read More
Related Articles
Read More
Related Articles

Julian Taylor, head of long income at LaSalle Investment Management, added: “We’re pleased to have completed this acquisition as we continue to target high-quality investments offering long-term, inflation-linked income streams to meet demand from clients with liability-matching investment strategies.”

The £105 million first phase of Exchange Square was also forward-funded by a client of LaSalle Investment Management.

Known as Allegro, it comprises 603 rental apartments in three buildings of seven, 14 and 27 storeys and is supported by 27,500 sq ft of retail and leisure accommodation.

Advisers on the deal were Colliers, Bampton Satchwell and Eversheds.



Source link

Previous Post

Tez Ilyas, 25 Nov 2020

Next Post

Sport England: Black voices to be given outlet during Black History Month

Genesis Radio

Genesis Radio

Related Posts

Outdoor adventure specialist Peak signs deal to reopen Staffs education centre
Local News

Outdoor adventure specialist Peak signs deal to reopen Staffs education centre

by Genesis Radio
15 April 2021
Virgin Media and O2 merger takes step forward as CMA ‘provisionally clears’ deal
Local News

Virgin Media and O2 merger takes step forward as CMA ‘provisionally clears’ deal

by Genesis Radio
14 April 2021
ASOS appoints XPO Logistics to manage new Staffordshire warehouse
Local News

ASOS appoints XPO Logistics to manage new Staffordshire warehouse

by Genesis Radio
14 April 2021
13 images of the new McArthurGlen West Midlands Designer Outlet in Staffordshire
Local News

13 images of the new McArthurGlen West Midlands Designer Outlet in Staffordshire

by Genesis Radio
14 April 2021
Potteries timber firm snapped up by sawmilling business
Local News

Three major North Staffordshire property deals you may have missed

by Genesis Radio
14 April 2021
Next Post
Sport England: Black voices to be given outlet during Black History Month

Sport England: Black voices to be given outlet during Black History Month

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Genesis Radio Birmingham
Listen With Winamp
Winamp
Listen With Media Player
Media
Listen With QuickTime
Quicktime
Listen With Real Player
Real
Genesis Radio Birmingham

Premier Music & Media Limited
27 Old Gloucester Street
London
WC1N 3AX

Company

  • About Us
  • Advertise
  • Contact Us
  • Join Our Team
  • Privacy Policy
  • Terms & Conditions

Recent News

Teenage Fanclub, 15 Apr 2021

Teenage Fanclub, 15 Apr 2021

15 April 2021
SnyderVerse Trilogy Trailer Arrives, Did HBO Max Just Make the Snyder Cut Offical DCEU Canon?

SnyderVerse Trilogy Trailer Arrives, Did HBO Max Just Make the Snyder Cut Offical DCEU Canon?

15 April 2021

GenesisRadioBirmingham.com is a trademark of Premier Music & Media Ltd. © 2021

No Result
View All Result
  • HOME
  • NEWS
    • ALTERNATIVE NEWS
    • ENTERTAINMENT NEWS
    • FOOD NEWS
    • HEALTH NEWS
    • MOVIE TRAILERS
    • LOCAL NEWS
    • MUSIC NEWS
  • WHATS ON
  • GENSOCIAL
  • GENESISTV
  • BEATZCLOUD

GenesisRadioBirmingham.com is a trademark of Premier Music & Media Ltd. © 2021

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.