Development and finance experts the Cannock Group have begun work on the £35 million transformation of redundant offices in Birmingham city centre into a leading hotel.
Located above the popular Martineau Place shopping centre on Corporation Street, the 12-floor One Martineau Place office building will be converted into a 168-room Staybridge Suites Hotel.
Constructed in the 1960s, the 115,000 sqft office building was largely vacant when it was purchased by Cannock Developments in April 2012.
Martineau Place marks Cannock Developments’ fifth hotel refurbishment, following the successful funding and completion of projects in Birmingham, Liverpool and Luton, with a combined value in excess of £125 million.
Mike Tracey, Cannock Developments, said: “While the adjoining retail element was refurbished in 2001, the facade of One Martineau Place has remained untouched since it was first completed. This is a great opportunity to breathe new life into a prominent and desirable city centre location and provide a further addition to Birmingham’s burgeoning hotel market.
“The refurbishment of the property will require an extensive programme of works, as alongside the internal refurbishment, we are providing a new façade and entrance to provide a truly contemporary look and feel.
“The driving philosophy of the Cannock Group is the basic understanding of a business’ needs and an occupier’s requirements. Through a thorough understanding of these simple principles, we deliver consistent returns to investors.”
Sitting almost equidistant from Birmingham’s three major railway stations, New Street, Snow Hill and Moor Street, and with excellent connections to the major road and motorway network, One Martineau Place occupies an ideal hotel location.
The extension of the Midlands Metro Line is also planned to pass immediately in front of Martineau Place and the hotel’s entrance, further increasing its desirability.
The work on One Martineau Place follows the successful redevelopment by the Cannock Group of Birmingham’s Cumberland House, which was transformed from disused offices into a 285-bedroom Hampton by Hilton Hotel, the largest of its kind in Europe and fourth largest in the world.
The full fit-out and refurbishment of One Martineau Place, which is being undertaken by Multibuild – is due to be completed in late 2013, with Then Hospitality to manage the hotel on behalf of investors.
Staybridge Suites is a range of upscale, extended-stay hotels with spacious apartment-style accommodation from InterContinental Hotels Group (IHG), which franchises, leases, manages or owns over 4,500 hotels in nearly 100 countries across nine different brands, including Holiday Inn and Crowne Plaza.
Well established in the USA, where there are 168 Staybridge Suites hotels already open, the brand is expanding across Europe and the Middle East. When completed, the hotel will include a range of front-of-house amenities, including a hub kitchen, laundry service and gym.