Ashall Projects and Middlesbrough Council deal paves way to £12m investment in town centre
Property Developer Ashall Projects (MB) Ltd, working in partnership with Middlesbrough Council, has secured a major deal to bring to the town centre international hotel brand Holiday Inn Express®, part of InterContinental Hotels Group (IHG®), one of the world’s largest hotel companies.
Ashall will undertake the £12.4m regeneration of Cook and Endeavour House on Albert Road which will see the building transformed into the Holiday Inn Express® Middlesbrough – Centre Square. The regeneration project will be partly funded by a loan of £5.8m from Middlesbrough Council with the equity funds being raised by Harcourt Capital.
With works due to start on site later this month, the 138 room hotel is scheduled to be open for business during the summer of 2015.
The building renovation and conversion has been designed by Architect, Ramsden & Partners. The project will be managed by Edmond Shipway and Bowmer & Kirkland is the main contractor and the hotel will be managed by Redefine|BDL Hotels.
Mark Ashall, Director of Ashall Projects, commented: “We are delighted to have secured the opportunity to refurbish this building and contribute to the regeneration of the centre of Middlesbrough. Bringing this project to fruition has involved a series of challenges and we would like to record our appreciation of the work undertaken by the professional team and everyone else involved in order to overcome them.”
“We are indebted to Middlesbrough Council and particularly to the Mayor, Ray Mallon, Councillor Charlie Rooney and the Regeneration and Finance teams for their assistance which was instrumental in enabling the project to proceed. By bringing these empty buildings at the Cleveland Centre into use as a quality hotel we will create job opportunities for local people and provide a boost to the local economy.”
Councillor Charlie Rooney, Middlesbrough Council’s Executive Member for Regeneration and Economic Development, said: “This development will bring new life to the Albert Road side of the Cleveland Centre, and will be an important element in the on-going development of Centre Square as a focal point for the town. It will support the needs of local businesses and the University as well as visitors to the town.
“We are delighted to be moving this much-needed scheme forward in partnership with Ashall Projects, with clear benefits for the town centre economy and the regeneration of Middlesbrough.”
Middlesbrough MP Andy McDonald added: “Middlesbrough Council and its officers richly deserve full praise. In the most trying of financial circumstances, they have found an innovative way to bring a multi-million pound investment into the town centre.
“I have had many meetings with Council officers and others to progress this project and am delighted the right outcome has finally been achieved.
“This is exactly what we need in Middlesbrough: the vision, courage and determination to bring jobs, economic stimulus and the facilities to encourage people to come to our town for business and pleasure for years to come."
Philip Lassman, Director of Development, UK & I, Intercontinental Hotels Group commented: “We’re pleased to be bringing the Holiday Inn Express brand, one of the fastest growing hotel brands in the world, to Middlesbrough. This is our first hotel with Ashall Projects and we’re delighted to be part of the revitalization of Middlesbrough’s city centre.”
The UK’s largest independent hotel management company, Redefine|BDL Hotels, who currently manage 54 branded and independent properties across the UK and Africa, will be responsible for the day to day running of the hotel.
Ross Morrow, chief development officer at Redefine|BDL Hotels, said: “This is a fantastic development for the city of Middlesbrough and will be an exciting restoration. The new hotel will be a welcome addition to our portfolio when our management team takes over following the completion of works next summer.”