LONDON—Hotel investment group, M&L Hospitality, is expanding its global portfolio in the United Kingdom with a hotel complex on the University of Manchester campus adjacent to Manchester Business School.
The Singapore-based investment group has taken a 125-year lease on university land for a 326-key mixed-use complex composed of 16 floors of rooms above three levels of hotel facilities that will include a restaurant, bar, conference facilities and gym. This will be the only hotel on the main University of Manchester campus.
This new investment increases M&L Hospitality’s portfolio to 14 hotels in key gateway cities in Singapore, Australia, Japan, New Zealand and the UK, following its acquisition of two hotels in Stratford City, London, in 2012.
The development forms part of the University’s campus master plan, which will create some of the most modern campus facilities in the world, according to the company. The company also noted demand for the rooms will be driven by the new executive education center adjoining the hotels, nearby science park and university hospitals, and proximity to Manchester City.
Neil Maxwell, CEO of M&L Hospitality, stated, “We are always exploring investment opportunities that have the potential to deliver stable and attractive returns. The UK hotel market continues to achieve solid performance and we are excited about the growth of internationally branded hotels here.
“The new hotel complex will be a valuable campus amenity for Manchester Business School, the University and nearby facilities such as the Manchester Science Park,the Central Manchester University Hospitals and the many cultural assets and arts venue along the Manchester Corridor,” he addedWe are looking forward to the start of construction and the launch of our next project in the UK.”
UK-based Bruntwood will develop the hotel. Cycas Hospitality, which is M&L’s operator for its Stratford City hotels, will manage the hotel.