High Bridge Hotel Boost17/06/2014
Newcastle based Lugano have announced the completion of a multi-million pound deal that will see High Bridge transformed with the construction of a 222 bed boutique hotel for German operator, Motel One.
The property has been sold to Kier Property Developments who will undertake the construction with their sister company. It is expected that work will commence on site in a matter of weeks.
A spokesperson for Lugano stated ‘This is fantastic news for the city and follows on from a number of other important schemes we have undertaken that will secure investment in the heart of the city and equally importantly, will create much needed new employment.’
‘Indeed, this scheme alone will result in over 100 new jobs and we are committed to a range of projects that have the potential to significantly boost the wider regional economy.’
Lugano were advised in the deal by Jesmond based solicitors, Mincoffs.
Paul Hughes, Corporate Partner added ‘This has been a complex project but one we are pleased to have assisted to successful completion. It will consolidate both Lugano’s and our own reputation for delivery in the North East.’
The project follows on from other successful Lugano schemes such as the new Tesco store on Grainger Street, the conversion and refurbishment of the Grade 2 listed 1-3 Gallowgate for quality apartments and the development of high-end executive homes at 50 Runnymede in Darras Hall, Ponteland.
To find out more, see coverage in the Business Journal.