Vermont Developments has leased 66 apartments at its Quarter development in Liverpool to American hotel chain Ramada.
The flats, all in the second phase of 112 apartments, will be held by Ramada for 20 years. The scheme on Sefton Street contains 187 apartments in the first phase, which is 83% sold. Ramada is already signed up to bring its Ramada Plaza brand to the 173-room hotel at the Quarter, due to be operated by Malta-based Corinthia Hotels International.
The project is due for completion in summer 2010
In Salford, Vermont has put on hold plans to build a £40m residential development due to the current market downturn.