Operator Sought For 65-Key Aparthotel in Milton Keynes, Buckinghamshire UK
Location: North Second Street, Milton Keynes, Buckinghamshire, England, UK
Name: To Be Granted to New Operator
Guide Price: TBA
No. of Keys: 65 – 8 Studios, 41 One-Bedroom Suites and 13 One-Bedroom apartments
The Opportunity:
Exclusively retained by Errigal Contracts, Saxbury is inviting turnkey master lease or management contract proposals for Platinum House ahead of practical completion in March 2022.
The original Platinum House has been completely rebuilt, and reconfigured to provide 65 (sixty-five) well proportioned, short-stay apartments (licensed with no minimum stay) featuring air-conditioning, balconies to many of the units and floor-to-ceiling windows. The Aparthotel will have its own dedicated check-in area plus, a luggage room, linen stores, and a manager’s office all at ground floor. Twelve car parking spaces are provided on N Third Street.
The studio apartments are an average of 34sqm; the 41 open-plan one bedroom suites average 32sqm and the full on one bedroom apartments are 50sqm average.
The macro location offers the advantages of Milton Keynes’ central business district with it’s superb travel connectivity, being positioned nine minutes’ walk from Milton Keynes Station, and a short stroll from blue chip HQ’s including Santander and Network Rail. Other corporate offices include Volkswagen, Deloitte, Dentons and Mercedez-Benz.
Floor plans available upon application to THPT. Operators are invited to submit a Letter of Interest by Friday November 5th 2021 detailing company covenant and history; nominated brand for the Aparthotel; headline offer should include the initial FRI lease terms, breaks, rent escalation, FF&E/OS&E requirements and a 10-year operational forecast. Please call Dev Anand at THPT for more info and address for LOI.
Flag & Management: Open to new operator
Main Photo: Platinum House – imagined
Financials: Access to a full data room will be granted upon LOI
Tenure: Lease or HMA
Agent: Our good friends at Saxbury
Date Posted: 2021
THPT Comment: Great opportunity to add this purpose-built aparthotel to an operator’s portfolio. Milton Keynes is known for it’s high hotel occupancy with relatively little competition in the apartment sector.
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