Aparthotel group adds Northern Quarter to fast-expanding estate
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Dublin-based aparthotel specialist Staycity will next month open its newest location, in the heart of Manchester’s historic Northern Quarter.
The nine-storey new build aparthotel has 224 studio and one-bed apartments sleeping up four people, with fully equipped kitchens or kitchenettes.
The property, which forms part of Manchester’s New Cross Neighbourhood Development Framework, offers 24-hour reception, a lounge area, pantry selling food items and a Staycafé serving breakfast, snacks and drinks.
There’s also an exercise room and guest laundry.
The building, on the site of a former car park, was designed by SimpsonHaugh Architects, has been developed by Catalyst Capital and is owned by Knight Frank Investment Management.
Staycity has taken a 25-year lease on the building.
The property will be open for corporate guests to view facilities on the evenings of July 21 and 22, from 4-10pm.
Northern Quarter is Staycity’s second property in Manchester. The company opened a 182-apartment facility in Piccadilly’s Gateway House in May 2017.
A 256-apartment property is also due to open in St Peter’s Square in October 2021, operating under Staycity’s premium brand, Wilde Aparthotels by Staycity.
Since the gradual lifting of lockdown in the UK and Europe, Staycity is seeing its occupancies climbing as pent-up demand for domestic travel grows.
Staycity’s average occupancy in the UK in June hit 71% with occupancies in Manchester performing particularly well, at nearly 90% for June.
Simon Walford, Staycity’s UK development director, said: “Manchester is a hugely important location for Staycity with Piccadilly being one of our best performing properties since it opened.
“In normal trading times, Manchester has a strong influx of international visitors and even with the current travel restrictions in place the city is proving a popular destination for domestic visitors.”
Staycity says its latest property will appeal to both leisure and corporate guests with its setting in the buzzy, lively Northern Quarter and its proximity to Etihad Stadium, home to Manchester City FC, and the bustling Central Retail District. Victoria Station is a 10-minute walk away.
The operator is embarking on an intense period of growth over the next 18 months, with new locations opening last month in Heidelberg, Germany and the French city of Bordeaux and a further nine properties opening this year and next.
By year end Staycity will be operating more than 5,000 apartments in 14 locations with properties in Berlin, Birmingham, Bordeaux, Dublin, Edinburgh, Heidelberg, Liverpool, London, Lyon, Manchester, Marseille, Paris, Venice and York.
In 2019 Staycity Group’s turnover grew 14% to €78m, with EBITDA rising 11%.
Until the Covid-19 pandemic the company was on target to deliver revenues of €100m in 2020. In November 2020 Staycity announced a €70m debt and equity refinancing through the Ireland Strategic Investment Fund (ISIF) and Manchester-based bank OakNorth, enabling it to emerge from the pandemic fully capitalised.