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The Northern Ireland Investment Fund (NIIF), managed by CBRE’s lending team, has provided a £28m development finance loan to JMK to facilitate the development of the Hamilton Dock Hotel site, within Belfast’s Titanic Quarter.
On completion, the site will comprise a 228-bed Aloft Hotel and Residence Inn Aparthotel, operated under a Marriott franchise agreement: JMK Group.by Marriott.
Additionally, it is aiming to achieve a BREEAM Excellent status, with an EPC A and LEED Gold ratings.
JMK stated that the development is “strategically” located in Belfast, near the Titanic Exhibition and SSE Area, and the delivery of the asset will “support tourism in the wider area – addressing a shortage of modern and sustainable stock in the Belfast hotel market.”
The investment opportunity aligns with the objectives of the Northern Ireland Investment Fund to enable real estate development projects that support innovation, businesses, energy efficiency, low carbon energy generation and job creation.
The project will deliver an estimated 130 jobs – including 60 jobs during the construction phase and 70 full-time jobs in the operational hotel. Construction has now commenced on the hotel site.
Zain Kajani, Director at JMK said: “We are pleased to have the funding in place and break ground at the JMK group’s first hotel in Northern Ireland, adding further depth to our hotel portfolio in the UK and Republic of Ireland, and aligning with our expansion strategy and forward-thinking approach to drive sustainability.
“The hotel/aparthotel will be branded Aloft and Residence Inn by Marriott. The combination of the international brand and the asset being in a prime location in front of the Titanic Museum, which is Belfast’s number one tourist attraction, will ensure the hotel & aparthotel have a bright future ahead.
