20 Dec 2016 11:44
20 December 2016
easyHotel plc
("easyHotel", the "Group")
Acquisition of long leasehold site in Sheffield for a new easyHotel
easyHotel, the owner, developer, operator and franchisor of "super budget" branded hotels, announces that further to the announcement of 15 November 2016, it has conditionally acquired the 999-year leasehold of part of the building at 57-65 High Street in Sheffield for the development of a new easyHotel. The purchase of the property is subject to obtaining planning permission.
The building, previously occupied by a Primark department store, is to be developed into a mixed-use property. The Group is acquiring the long leasehold for part of the ground and first floors and all of the second and third floors of the building, with the intention of converting these into a 131-room easyHotel, which, subject to planning consent, is, expected to open in 2018. The total cost of the purchase and conversion of the building will be approximately £6.0 million.
The property is situated on the High Street, in the heart of Sheffield's city centre, located just 50 metres from the nearest Tram stop at Castle Square and is surrounded by an array of shops, bars, restaurants and other local attractions, and is within 10 minutes' walk of the railway station.
Guy Parsons, Chief Executive Officer, commented:
"We are delighted to be investing in Sheffield, a key northern powerhouse city which has received significant inward investment. Sheffield is the fourth largest city in England, a major centre of engineering and creative & digital technologies, home to sport venues such as the Hillsborough stadium and The Crucible and has two major universities. Attracting nine million visitors per year, the dynamics of the city make it very attractive location for a new easyHotel, which will be ideally situated to service both business and leisure visitors.
"I am pleased that we have delivered our first investment as set out in our development strategy announced in September which we remain on track to deliver."
Enquiries:
easyHotel plc | www.easyhotel.com |
Guy Parsons, Chief Executive Officer |
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Marc Vieilledent, Chief Financial Officer | http://ir.easyhotel.com |
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Investec (Nominated Adviser and Broker) | +44 (0) 20 7597 4000 |
Chris Treneman / David Anderson |
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Hudson Sandler (Financial PR) | +44 (0) 20 7796 4133 |
Wendy Baker/ Emily Dillon |
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Notes to Editors:
easyHotel is the owner, developer, operator and franchisor of branded hotels. Its strategy is to target the "super budget" segment of the hotel industry by marketing "clean, comfortable and safe" hotel rooms to its customers.
Operating hotels
easyHotel's three owned hotels currently comprise 390 rooms, and it has a further 19 franchised hotels with 1,643 rooms.
Owned hotels:
Old Street (London), Glasgow, Croydon.
Franchise locations:
Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin, Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam, Amsterdam-Zaandam, Rotterdam, The Hague), Switzerland (Basel, Zurich), UAE (Dubai), United Kingdom (Edinburgh, London Heathrow, Central London, Luton).
Hotel development pipeline
The Company's committed development pipeline of owned and franchised hotels currently consists of:
Owned hotels:
United Kingdom (Liverpool, Manchester, Birmingham, Ipswich), Spain (Barcelona)
Franchise hotels:
UAE (Dubai), Germany (Bernkastel-Kues), Portugal (Lisbon), Turkey (Istanbul), UK (Reading)
Website: www.easyHotel.com
-ends-
EZH.L (EZH)