Addleshaw Goddard has advised on a deal between property firm Bruntwood and M&L Hospitality Group to develop a 19-storey, 326-room hotel at the University of Manchester’s Business School (MBS).
Designed by BDP and Leach Rhodes Walker, the hotel will be situated on the University’s Oxford Road Campus and will be operated by Cycas Hospitality.
The hotel will adjoin a new two-storey Executive Education Centre, which will provide a new home for the MBS's corporate management programmes.
The development is part of the University’s £1billion Campus plan which will create modern campus facilities and a southern gateway to the city, known as the ‘Manchester Corridor’.
The second phase, which is still in planning, will focus on the redevelopment of the existing precinct centre to create a 40,500 sq ft retail and leisure offer, specifically designed to host a mix of high quality brands and amenities.
The scheme for the refurbishment works will be completed in phases with the construction of the hotel expected to start this year while the final phase is due for completion in early 2018.
Advising Bruntwood from a property, construction and banking perspective, the AG team was led by Stephen Kinsey alongside Steve Ormand, Martin O'Shea and Natalie Hewitt.
Stephen Kinsey, Partner at Addleshaw Goddard said: “The successful completion of this deal triggers unconditionality which allows for an immediate start on site for the construction of the Hotel and the Executive Education Centre. We are pleased this deal is progressing and look forward to the completion of the second phase, expected this year.”