by Aiken PR
Northern Ireland based developer and contractor McAleer & Rushe has announced that construction is to commence on a new 620 room hotel and hybrid aparthotel development in Paddington, London with a contract value worth c.£82 million.
Led by developer Concierge 3, a consortium of BSW Land & Property, Staycity and The Pickstock Group, the scheme is the final stage of the Paddington Basin Masterplan and part of a wider investment which has seen new offices, shops, homes and leisure facilities being built over the last number of years revitalising this unique location. The project will create both short– and long–term jobs and with the upcoming launch of the Elizabeth Line will further support the economic regeneration as Paddington continues to grow as a hub for business users as well as leisure visitors to the City.
The new development is expected to open late Summer 2021 and will be constructed on an existing two–storey basement and feature a 373–bed Premier Inn and a 247–bed Staycity aparthotel across 19 floors. The development will also deliver 27,000–square–feet of social and community floorspace.
Commenting on the development Emmett McGinley, Commercial Director, McAleer & Rushe Contracts UK said, “We are looking forward to working as development partners with Concierge 3 and all shareholders in delivering this exciting project within the wider Paddington regeneration masterplan. Our experience in delivering high quality mixed–use buildings will ensure this project is a real success and is currently our second major development in Paddington Basin.”
Rabeea Shamsi CEO of BSW Land and Property, spokesperson for Concierge 3 Ltd. Said, “This exciting development will make a major contribution to the regeneration of Paddington and it also bears testament to London’s buoyant and resilient hospitality market. We will be working closely with McAleer & Rushe throughout the project and look forward to seeing this investment come to life on site.”
This contract award further solidifies McAleer & Rushe’s position as one of the leading contractors in the Hotel sector which has seen them deliver over 24,000 hotel bedrooms in key cities across the UK and Ireland. The Company has successfully worked with leading developers in recent years to expand their presence in the Residential and Student Accommodation markets.
About McAleer & Rushe
A privately owned multi award winning business, McAleer & Rushe is one of the leading construction and property companies in the UK. Based in Cookstown with offices in London, Dublin and Belfast the company has multi–sector mixed use projects across the UK & Ireland and celebrated 50 years in business in 2017. For further information please visit http://www.mcaleer-rushe.co.uk/
About Concierge 3 Limited
A development consortium comprising the following three joint venture partners, Concierge 3 Ltd. embody expertise within every stage of a development project, from conception, successful delivery, through to efficient and high–quality operations.
BSW Land & Property Limited
BSW are a boutique property development outfit focussed on hospitality projects across the U.K., with specialist expertise in design management, value engineering, development finance, and structured finance solutions.
Staycity are an award winning aparthotel operator currently managing 16 aparthotels – with over 2,000 rooms – across 10 cities in the United Kingdom, Ireland and Europe. A further 18 Aparthotels are in the pipeline, bringing the total number of rooms to 6,000. The Company’s core strategy is to focus on four main markets – Ireland, the UK, Germany and France – where the Staycity brand is a strong emerging force.
Staycity’s premium brand, ‘Wilde’, recently opened in The Strand (Central London) with further sites for this upscale aparthotel offering being signed in Dublin, Manchester, Edinburgh and Berlin.
The Pickstock Group
The Pickstock Group is an international group of companies with interests in manufacturing, telecommunications, modular production, construction, property development and investment. Delivering for both the private and public sectors, The Pickstock group has emerged as a formidable force in property sectors where volume play is a dictating dynamic.