Veld Capital and Maya Capital have secured a £45.7m loan from digital bank OakNorth to develop a new hotel at 160 Blackfriars Road. Veld Capital, founded in 2009, focuses on credit-oriented investments and has raised €2.7bn (£2.2bn) for over 100 investments across 15 countries. Maya Capital, established in 2014 by David Pralong, has invested £400m across 17 deals. The OakNorth loan will fund the construction of a 222-bedroom hotel operated by Motel One, along with ground-floor offices. Sebastien Wigdo of Veld Capital expressed satisfaction with the collaboration, emphasising the project’s milestones in planning and refurbishment. David Pralong highlighted the importance of their partnership with Motel One, marking the company’s first hotel management contract in Europe.
B&B Hotels has expanded its UK presence by acquiring five hotels in Birmingham City Centre, Ipswich, Inverness, Warrington, and Derby. These hotels will undergo light renovations while remaining operational. This acquisition brings B&B Hotels’ UK portfolio to six, following the opening of its first UK hotel at Heathrow Terminal 5 earlier this year. The French hotel operator aims to grow to 100 UK hotels by 2035. Fabrice Collet, president and CEO, emphasised the company’s commitment to providing value and their ambition to reach 3,000 hotels globally within ten years. Patrick O’Connell, chief executive, highlighted the significance of becoming part of new communities and expanding into various UK locations.
Criterion Capital Limited has acquired 109-112 Princes Street in Edinburgh to establish its first Zedwell Hotels location in Scotland. The hotel will feature over 116,500 sq ft. of space with rooms designed for optimal sleep, including noise-reducing elements and warm lighting. The prime location offers views of Edinburgh Castle and Princes Street Gardens. This Edinburgh site is part of Criterion’s plan to develop 22 hotels, adding to existing locations in London and an upcoming Zedwell Manchester. Asif Aziz, founder and CEO, expressed enthusiasm for the expansion into Edinburgh, noting the city’s strong tourism sector. Kerr Young of JLL highlighted Edinburgh’s status as Europe’s best-performing hotel market.
Whitbread has launched a second public consultation on the redevelopment of the Premier Inn Norwich Nelson City Centre site. This follows an initial consultation in the spring, where plans were introduced to revamp the site, including the hotel, a Table Table restaurant, commercial units, parking spaces, and surrounding land. The new proposal includes a larger Premier Inn, student accommodation, and new homes, along with enhanced green spaces and a river walkway. Richard Pearson, senior development manager at Whitbread, emphasised the goal of integrating the development with its surroundings and providing high-quality public space. The second consultation aims to gather further community feedback before submitting a planning application in the autumn.