EasyHotel acquires new Leeds site
‘Super-budget' brand EasyHotel has conditionally acquired the long leasehold of a site in Leeds for the development of a new EasyHotel, subject to planning permission.
The group plans to convert the site at 14-22 Lands Lane into a 94-room EasyHotel, expected to open in 2018. Total cost of the 250-year leasehold purchase and conversion of the building will be approximately £5m.
The property, originally the Scala Theatre which opened in 1922, is centrally positioned within the pedestrianised area of Leeds city centre.
The brand recently revealed it is planning to further expand its enterprise following an 8.7% increase in turnover to £6.02m.
EasyHotel's three owned hotels in London Old Street, Glasgow and Croydon comprise 390 rooms, and it has a further 19 franchised hotels with 1,643 rooms.
The company's development pipeline includes properties in Liverpool, Manchester, Birmingham and Ipswich, as well as sites in Sheffield and Reading subject to planning consent.
Guy Parsons, chief executive officer, said: "We are delighted to announce our second development project in line with our development strategy announced in September. Leeds, a northern powerhouse city, is already a major regional employment hub which will be further supplemented by the significant planned developments for the city, including the redevelopment of the former Tetley Brewery, Leeds Dock shopping area and HS2."
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