£82 million hotel to be built next to new Elizabeth line
Set to open late summer 2021, construction giant McAleer & Rushe have secured an £82 million deal to build a new London hotel development in Paddington.
The contractor has confirmed construction will begin soon on the new 620-room hotel and Aparthotel hybrid, constructed on an existing 2 story basement.
Once completed, the new hotel will feature a 373-bed Premier Inn, and a 247-bed Staycity Aparthotel. Spread across 19 floors, the new Paddington development will also deliver 27,000 sq. ft of social and community floorspace.
Creating both short and long-term job opportunities, the upcoming launch of the new Elizabeth line further supports the economic regeneration of the Paddington area, as it continues to grow as a hub for business users and leisure visitors to the city.
The development, led by Concierge 3, is in the final stage of the Paddington Basin Masterplan. Part of a wider investment which has seen the implementation of new offices, shops, homes and leisure facilities being built over the last few years, with hopes to revitalise the area ahead of the Elizabeth line opening.
Emmett McGinley, McAleer & Rushe UK contracts commercial director, welcomed the latest contract won by the organisation in the hotel sector.
McGinley said “We are looking forward to working as development partners with Concierge 3 and all shareholders in delivering this exciting project within the wider Paddington regeneration masterplan, our experience in delivering high quality mixed-use buildings will ensure this project is a real success and is currently our second major development in Paddington Basin.”
A spokesperson for Concierge 3 added: “This exciting development will make a major contribution to the regeneration of Paddington and it also bears testament to London’s buoyant and resilient hospitality market. We will be working closely with McAleer & Rushe throughout the project and look forward to seeing this investment come to life on site.”
McAleer & Rushe are one of the leading contractors in the UK and Irish hotel sector, having delivered over 24,000 bedrooms. In recent years, they have also successfully worked with leading developers, with hopes to expand their presence in the residential and student accommodation markets.