easyHotel PLC Acquisition of long leasehold site in Leeds (6505S)
December 22 2016 - 10:29AM
UK Regulatory
TIDMEZH
RNS Number : 6505S
easyHotel PLC
22 December 2016
22 December 2016
easyHotel plc
("easyHotel", the "Group")
Acquisition of long leasehold site in Leeds for a new
easyHotel
easyHotel, the owner, developer, operator and franchisor of
"super budget" branded hotels, announces that it has conditionally
acquired the 250-year leasehold of 14 - 22 Lands Lane in Leeds for
development of a new easyHotel. The purchase of the property is
subject to obtaining planning permission.
The property is centrally positioned within the pedestrianised
area of Leeds city centre, equidistant from the City's main
shopping centres The Victoria Quarter, The Light scheme and Trinity
shopping centre. Leeds railway station, the third busiest in the UK
(outside of London), is located just 500 metres from the proposed
hotel. The building was originally The Scala Theatre constructed in
1922.
The Group plans to convert the building into a 94-room
easyHotel, which is expected to open in 2018. Total cost of the
purchase and conversion of the building will be approximately
GBP5.0 million.
Guy Parsons, Chief Executive Officer, commented:
"We are delighted to announce our second development project in
line with our development strategy announced in September.
"Leeds, a northern powerhouse city, is already a major regional
employment hub which will be further supplemented by the
significant planned developments for the city, including the
redevelopment of the former Tetley Brewery, Leeds Dock shopping
area and HS2. Leeds is the eighth most visited City in the UK,
attracting 25 million people each year with major visitor
attractions including the First Direct Arena, 02 Academy, Leeds
United stadium at Elland Road and Headingley Stadium, home to the
City's rugby league team and Yorkshire County Cricket Club."
Enquiries:
easyHotel plc www.easyhotel.com
Guy Parsons, Chief Executive
Officer
Marc Vieilledent, Chief http://ir.easyhotel.com
Financial Officer
Investec (Nominated
Adviser and Broker) +44 (0) 20 7597 4000
Chris Treneman / David
Anderson
Hudson Sandler (Financial
PR) +44 (0) 20 7796 4133
Wendy Baker/ Emily Dillon
Notes to Editors:
easyHotel is the owner, developer, operator and franchisor of
branded hotels. Its strategy is to target the "super budget"
segment of the hotel industry by marketing "clean, comfortable and
safe" hotel rooms to its customers.
Operating hotels
easyHotel's three owned hotels currently comprise 390 rooms, and
it has a further 19 franchised hotels with 1,643 rooms.
Owned hotels:
Old Street (London), Glasgow, Croydon.
Franchise locations:
Belgium (Brussels), Bulgaria (Sofia), Germany (Berlin,
Frankfurt), Hungary (Budapest), The Netherlands (Amsterdam,
Amsterdam-Zaandam, Rotterdam, The Hague), Switzerland (Basel,
Zurich), UAE (Dubai), United Kingdom (Edinburgh, London Heathrow,
Central London, Luton).
Hotel development pipeline
The Company's committed development pipeline of owned and
franchised hotels currently consists of:
Owned hotels:
United Kingdom (Liverpool, Manchester, Birmingham, Ipswich),
Spain (Barcelona)
Subject to planning consent: United Kingdom (Sheffield)
Franchise hotels:
UAE (Dubai), Germany (Bernkastel-Kues), Portugal (Lisbon),
Turkey (Istanbul), UK (Reading)
Website: www.easyHotel.com
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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