Thackeray Group Seeks Aparthotel Operator for £30m Reading, UK Development
Location: Queen Victoria Street, Reading, Berkshire, England, UK
Name: TBA – open to operator
Guide Price: 15 – 25 year Operational Lease Preferred
No. of Keys: 94
The Opportunity:
Thackeray Group, the real estate investment, development and asset management company owned by Antony Alberti and Brett Palos, has launched a search for an aparthotel operator to anchor its £30 million QVS development in the centre of Reading after securing unanimous planning consent.
Thackeray has appointed Saxbury, a specialist aparthotel agency, to find an operator to lease a 94-bed aparthotel at the heart of the development. Thackeray is carrying out a sensitive redevelopment of the site at 1-15 Queen Victoria Street and 147-148 Friar Street, by restoring the grade II-listed buildings and extending to the rear to create a market square with boutique retailers and independent food traders.
Antony Alberti, CEO and co-founder of Thackeray Group, said: “The impressive Victorian buildings are well-positioned at the gateway to Reading city centre opposite the new Crossrail station. They are long overdue a comprehensive restoration, which this project will enable, and, once redeveloped, will provide high quality accommodation, leisure and retail”.
Ben Davis, co-founder of Saxbury, said: “The leasing of QVS presents a unique opportunity for a leading brand to gain scale and presence in one of the UK’s top three cities for digital technologies, and, with the benefit of the secured planning consents, these historical buildings can be re-modelled to create one of the finest aparthotels in the south east”.
Thackeray Group is a real estate investment, development and asset management company with a portfolio of properties of more than 1 million sqf and in excess of £250 million in value across several sectors including retail, office and residential. The company has a track record of rejuvenating and regenerating sites, often rich in heritage, into high-quality, mixed-use spaces which benefit local communities.
Main Photo: The QVS Site in Reading – imagined
Flag & Management: Open to new operator
Financials: Outline business plan available
Tenure: Lease – term to be agreed
Agent: Saxbury….operator would need to retain THPT
Guide Price: TBA
Date Posted: Originally late 2021 – offers still open May 2022
THPT Comment: Reading has it’s fair share of serviced apartments, but this development would be considered to be a flagship operation
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