McAleer & Rushe has secured the contract for the new £82 million hotel and aparthotel development in Paddington, with construction work due to begin shortly. The new 620-room development is the final stage of the Paddington Basin Masterplan.
The development will be built on an existing two-storey basement and feature a 373-bed Premier Inn and a 247-bed Staycity aparthotel across 19 floors. The development will also deliver 27,000 square feet of social and community floorspace.
“We are looking forward to working as development partners with Concierge 3 and all shareholders in delivering this exciting project within the wider Paddington regeneration masterplan. Our experience in delivering high quality mixed-use buildings will ensure this project is a real success and is currently our second major development in Paddington Basin,” said Emmett McGinley, Commercial Director, McAleer & Rushe Contracts UK.
Led by developer Concierge 3, a consortium of BSW Land & Property, Staycity and The Pickstock Group, the scheme is the final stage of the Paddington Basin Masterplan and part of a wider investment which has seen new offices, shops, homes and leisure facilities being built over the last number of years revitalising this unique location.
The new hotel-aparthotel hybrid will open its doors in late Summer 2021.