‘Super-budget' brand EasyHotel has confirmed it has completed the acquisition of the 125-year leasehold of 81-91 John Bright Street in Birmingham.
In January of this year the firm announced it had conditionally acquired the property for £4.5m. The purchase of the property was subject to EasyHotel obtaining planning consent for a hotel.
It was granted planning permission for an 84-bedroom hotel in May and the hotel is expected to open by March 2017.
Speaking at the time the acquisition was announced, chief executive Guy Parsons said: "We see significant opportunity for EasyHotel to service business customers and leisure visitors to Birmingham's lively events programmes and look forward to building our brand presence in the city.
"In line with the strategy, the current financial year to date has seen an acceleration in both the owned and franchised hotel development pipelines as the company continues to establish itself as the leading branded super budget chain."
In the same month the company revealed it had acquired a hotel in Ipswich and unveiled plans for its first hotel outside the UK, in Barcelona. The 200-bedroom development is expected to open in 2018.
A trading update said it had planning permission for a 77-room owned hotel at 47 Castle Street in Liverpool and for a 116-room hotel at Bradley House in Manchester. Both freehold properties are now owned and the hotels are expected to open in 2016/2017 financial year.
EasyHotel's owned hotels currently comprise 390 rooms and it has a further 17 franchised hotels with 1,405 rooms.
Its owned hotels, which are already open, include Old Street in London, Glasgow and Croydon.
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