Topland Group has launched a hotel development joint venture with Marick Real Estate and Mill Land Estates.
Sol Zakay-owned Topland will be the majority equity partner in the jv, whose first project will be the Trafford City Hotel in Manchester. The scheme will be built on a 1.75-acre site opposite the EventCity venue, which was bought from Peel Holdings.
The 203-bedroom hotel has planning consent and work is expected to commence in early 2016. It will be
will be operated by Tower Hotel Management, part of the Peel Group.
Topland and Marick worked together previously on the 190-bedroom Hampton by Hilton hotel at London City Airport.
Topland financed the Marick development with a £22m loan. Mill Lane Estates is the development manager on the Docklands project.
Zakay said: “We continue to see considerable value in hotels. We are in the process of assembling a pipeline of hotel development opportunities within the new joint venture with Marick, Mill Lane Estates and others. We are actively seeking further sites throughout the UK suitable for such development.”
