Topland buys hotel site from Peel
Topland Group, in a joint venture with Marick Real Estate and Mill Lane Estates, is continuing its £200m push into the hotel sector with a new development planned to capitalise on EventCity at the Trafford Centre.
Topland, led by Sol Zakay, is the majority equity partner in the new venture. Topland acquired Liverpool-based hotel group Feathers at the start of this year.
Trafford City Hotel will be built on a 1.75-acre plot bought from Peel Group opposite the EventCity conference and exhibition venue.
Planning permission is in place for the new 203-bedroom hotel and it is expected work will commence in early 2016, ahead of the 2018 extension of the Manchester Metrolink tram network.
Trafford City Hotel will be operated by Tower Hotel Management, which is part of the Peel Group.
Topland-led partnership follows the company’s successful collaboration on the construction of a 190-bedroom Hampton by Hilton hotel at London City Airport, for which Topland provided Marick with a £22m development finance facility. Mill Lane Estates is the development manager on the Docklands project. The JV partners expect to deliver further projects together.
Work has started on site and is expected to open for Christmas 2016.
