The conversion of office buildings to residential use is being taken one stage further in Birmingham, with the £35 million conversion of the vacant One Martineau Place office building into a 168 suite hotel.
Of concrete frame construction, the 1960's office building, over 12 floors, provides approximately 115,000 squ ft of space, which is being reclad and fully refitted by specialist hotel contractors Multibuild, now part of Balfour Beatty.
When finished in November the property will carry the Staybridge Suites brand from the US, where the concept was invented, and will incorporate the necessary front of house areas including Staybridge Hub, laundry and gym. Staybridge Suites offer guests the best of home and hotel with spacious living areas and fully equipped kitchens. The property will be managed by Then Hospitality on behalf on the investors.
One Martineau Place is on Corporation Street, and is well situated within the triangle formed by the three Birmingham railway stations in the central business distict.
Martineau Place marks Cannock Developments’ fifth hotel refurbishment, and follows the successful redevelopment 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, by the firm.
Cannock Group specialises in schemes which take advantage of the Business Premises Rennovation Allowance (BPRA), first introduced as a regeneration measure in the 2005 Finance Act, Cannock structured the first investment syndicate in March 2008 and has subsequently closed seven further investment opportunities.
Cannock Developments entered the hotel market with the provision of a 152 bedroom Premier Inn in Central Birmingham. The scheme involved the refurbishment of two existing though redundant 1970’s office properties within central Birmingham’s business district.
With a lease from Premier Inn, the development was successfully funded utilising BPRA in March 2009 and the completed hotel was handed over to Premier Inn in May 2010. A further 157 bedroom Premier Inn in Birmingham is also in the development pipeline.