GCW identified the site, outside one of the main entrances to the NEC in Birmingham and opposite the Genting Arena, and agreed the acquisition on behalf of Vastint. The 125 year lease was purchased for £3.5 million with a peppercorn rent. The site has outline consent for a hotel and the deal is subject to planning. The proposed development will accommodate a 225-bed Moxy hotel which hopes to open in 2019.
This is the forth site acquired for the hotel developer by GCW following those in Heathrow, Bristol and Southampton. It is Moxy’s 12th hotel as the brand continues its steady expansion.