Edyn signs deal to develop new site at Liverpool One

Grosvenor Britain and Ireland has announced hospitality group, Edyn, has signed to develop a new site at Liverpool ONE, adding to its expanding portfolio of extended stay sites across the UK and Europe. The new 60,000 sq ft of contemporary serviced apartment space will be located at 39 Paradise Street and will open its ten-floor site to guests in summer 2021. The firm said Edyn has built a “distinctive portfolio” across the UK and Europe, which includes SACO serviced apartments, lifestyle aparthotel brand Locke, The Moorgate, and Wittenberg. Edyn’s flexible apartments are designed for both business and leisure guests, for long- and short-term stays – which has allowed the group to “rapidly expand despite current industry challenges”. Grosvenor added that the “significant’ 25-year signing reflects the “resilience and strength” in performance of Liverpool One and Edyn and signals Edyn’s “renewed appetite” for leases in regional UK cities. From March to October 2020, Edyn maintained an average occupancy of 65% across its portfolio despite Covid-19. Alison Clegg, MD of Asset Management at Grosvenor Britain & Ireland, said: “This commitment from Edyn, as a highly credible, successful and unique operator, strengthens Liverpool ONE as a leading mixed-use destination. “Just as we are on the front foot of retail and leisure trends, this new accommodation concept will see Liverpool ONE equipped for post-Covid tourism and visitation needs. Alongside the raft of recent signings and regears, this deal with Edyn signifies a bright year for Liverpool ONE ahead.” Stephen McCall, CEO of Edyn, added: “We are thrilled to be working with Liverpool ONE and Grosvenor to develop edyn’s latest site, and to establish new roots in such a vibrant urban location. “As proven over the last 12 months, our quality-focused, long-stay accommodation model naturally aligns with evolving travel needs, positioning us as leaders for the new chapter of hospitality ahead. We look forward to unveiling this compelling new address for edyn at Liverpool ONE, which forms a key part of our dynamic international portfolio.”