Staying Cool bidding to build boutique apartments in Gay Village

Manchester-based boutique serviced apartment operator Staying Cool has announced plans for a new 41-unit scheme on Chorlton Street in the heart of the city’s Gay Village.

Acting on behalf of the Cringle Corporation, CBRE’s North West specialist markets team based in Manchester has secured the operator for the proposed development.

The regeneration of the former cotton warehouse, which has stood empty for several years, will see the city centre building redeveloped into a new, high specification apartment hotel.

Once home to Oliver Peyton’s Mash & Air in the 1990s, the building was acquired by the Cringle Corporation in 2014.

Cringle appointed Nick Huddleston of CBRE’s specialist markets team to secure a serviced apartment/apartment hotel tenant.

Staying Cool, advised by Tony Bray of Pure Real Estate Solutions, were appointed after a competitive tender.

The two parties have signed heads of terms and recently submitted a joint planning application, which includes the addition of a new roof top extension.

The architects on the project are Halliday Meecham and the planning consultants Euan Kelly Property Solutions.

If approved, Cringle plans to start the restoration and renovation works this Autumn, with Staying Cool earmarked for opening in late 2018.

Joshua Senior, director at Cringle said: “Given the location of the building and its particular loft style features and appeal, interest in leasing the site was significant with strong bids received from a range of regional, national and international operators. We selected Staying Cool for their forward-thinking business style, attention to detail, quality and award-winning brand.”

Paul Taylor, co-founder of Staying Cool said: “The building is a real gem, a classic Manchester warehouse, with tonnes of character.

“We believe that the significant redevelopment schemes in the immediate neighbourhood, including Kampus across the road, make this a perfect location for a design-led apartment hotel by Staying Cool.”

This scheme is the first of the joint partnership with Bespoke Hotels, announced by Staying Cool last year, with a view to rolling out the brand across the UK. Staying Cool already has a 45 bed apartment hotel on the top floors of Birmingham’s iconic Rotunda.

“We’re delighted to be able to announce this new scheme – one of a number over the next few years as we move ahead with our ambitious expansion plans. We are especially pleased to be opening in Manchester as it is the city where our story began,” continued Taylor.

Phil Burke, chair of Village Licence Businesses Association added: “We are really excited about bringing Staying Cool into the Village Quarter and reinvigorating this fantastic building for a new lease of life as a boutique apartment hotel.”