A Singapore group is to invest in the development of a new hotel as part of the University of Manchester’s £1bn campus masterplan.
ML Hospitality is taking a 125-year lease on university land adjacent to Manchester Business School for the 326-bedroom hotel, which will be developed by Bruntwood.
It will comprise 16 storeys of rooms above three levels of hotel facilities including a bar, restaurant and conference space. The site will be the only hotel on the university grounds and forms part of its £1bn campus masterplan.
Neil Maxwell, chief executive of ML Hospitality, said: “We are always exploring investment opportunities that have the potential to deliver stable and attractive returns.
“The UK hotel market continues to achieve solid performance and we are excited about the growth of internationally branded hotels here.
“The new hotel complex will be a valuable campus amenity for Manchester Business School, the university and nearby facilities such as the Manchester Science Park, the Central Manchester University Hospitals and the many cultural assets and arts venue along the Manchester Corridor. We are looking forward to the start of construction and the launch of our next project in the UK.”
ML Hospitality currently owns two hotels in Stratford City, London in the UK. The Manchester hotel would be managed by Cycas Hospitality, which is ML’s operator for the London sites.
Singapore group to invest in Manchester University hotel