Midlands-based developer ROSB has secured serviced apartment operator StayCity for its £63m Newhall Square development in Birmingham. The chain will operate a 190-unit aparthotel on the site under a 30-year lease. ROSB has consent for 247 flats, but will submit alternative plans for the £16m aparthotel in April.
Dublin-based StayCity is backed by Irelandia, the investment vehicle of the Ryan family. Phase one of Newhall Square – the former Birmingham Science Museum – is already complete and comprises a 100-bedroom Travelodge and 17,000 sq ft of offices. Colliers International advised ROSB; StayCity was unrepresented.
lisa.pilkington@estatesgazette.com
