700 jobs take a step closer as next phase of Island Quarter gets backing of planning bosses
The second phase of the huge Island Quarter development site in Nottingham has been tipped for approval by the city’s planning bosses.
If voted through next Wednesday by the city council planning committee, site owner Conygar will move forward with plans to build two hotels, to be managed by Intercontinental Hotels Group, a co-working space, 247 build to rent apartments plus an “extensive” food and beverage offering.
The hotel element of the scheme will rise to 18 storeys at its tallest point and include 223 rooms and a roof terrace. HG was announced as the operator for hotels, bringing its Hotel Indigo and Staybridge Suites brands to the city for the first time.
In a statement to the London Stock Exchange earlier this week, Conygar said: “We continue to progress the designs for subsequent phases and are in advanced discussions with potential lenders to finance both the student accommodation development as well as later phases of the project and expect to make announcements in that regard over the coming months.”
Hailed as the UK’s first cohesive-use building, 1B will create up to 350 jobs during the construction phase, with a further 700 when completed and operational.