The Topland Group launches hotel development business

By Sophie Witts contact

- Last updated on GMT

The Topland Group launches hotel development business

Related tags: Greater manchester

The Topland Group has launched a new hotel development business with Marick Real Estate and Mill Lane Estates.

The property investment firm will be the major equity partner in the venture, which forms part of Topland’s ongoing strategy to build a £1bn hotel business.

For its first project the group has secured planning permission for a 203-room hotel on a 1.75 acre site opposite the EventCity venue at the Trafford Centre in Greater Manchester.

Work is expected to begin in early 2016 ahead of the 2018 extension of the Manchester Metrolink tram system.

Sol Zakay, executive chairman and CEO of Topland, said: “We continue to see considerable value in hotels. We are in the process of assembling a pipeline of hotel development opportunities within the new joint venture with Marick, Mill Lane Estates and others. We are actively seeking further sites throughout the UK suitable for such development.”

Topland is continuing to increase its profile within the sector, and has committed to deploy over £200m of development finance, mezzanine finance and joint venture equity.  

The company acquired the Feathers Hotel Group in January​, and earlier this month launched a new mid-market hotel chain​ following its purchase of Hallmark Hotels and Menzies Hotels.

Related topics: Business & Legislation, Hotel

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