GCW has worked with Vastint since 2014 when it secured a 3.5 acre stand-alone site on Heathrow’s golden mile to develop a 435-bed Moxy Hotel. Vastint’s ongoing requirement is sites for 150 – 200 bed hotels at 45,000 to 65,000 sq ft in major city centres close to transport hubs and also main UK airport locations.
It initially worked to raise awareness of the Moxy brand through a marketing campaign and helped to sell the message of the operator’s strength.
GCW’s Alternative Sectors team is in regular contact with major metropolitan councils, heads of regeneration, airport owners and large land owners and is therefore well placed to source potential sites.
In Bristol, GCW negotiated a second purchase for Vastint. The acquisition consisted the long leasehold interest of a consented hotel site from a developer, simultaneously buying the freehold from Bristol Council and an adjacent site from Avon Police. GCW also negotiated a new short term occupational lease to Halfords to safeguard income whilst the whole development was planned.