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Manchester-based developer Capital and Centric has completed a funding agreement with the Greater Manchester Fund to start the construction of its £35.5m hotel at Piccadilly East.
The 275-bedroom, which will be acquired and occupied by the Fattal Group when completed, will operate under the Leonardo Hotel brand.
Jenga-inspired hotel will create 90 full time jobs, starting with the build expected to be completed in 2022, with work expected to start this summer, subject to coronavirus restrictions being lifted.
The hotel, designed by Stephenson Studio will be located on the corner of Adair Street and Great Ancoats Street, will span 14 floors. It will also feature a ground floor restaurant, bar and external terrace area that will spill out onto a new public square.
Tim Heatley, co-founder of Capital and Centric, said: “In these difficult times it’s even more important to be pushing ahead with our Adair Street hotel. It’s going to be a striking new addition to Manchester’s skyline and an anchor development in the Piccadilly East neighbourhood.
“With residents due to move into our Crusader and Phoenix developments later this year and plans for other homes in the area, this is going to be a thriving new part of the city.”
Gareth Conroy of Avison Young, property fund manager to the Greater Manchester Pension Fund, added: “Times are tough but it’s important that we look to the future and plan for when the crisis is over. This hotel is an ambitious, high quality project which sets the bar high for development in the city.”
Capital and Centric and Kamani Property have opened a Covid-19 emergency supplies depot in Manchester’s New Cross.
