Apart-hotel operator on major expansion drive after acquisition of city centre office building
An apart-hotel operator in York has acquired a city centre former office building and work is now underway to transform the property into an exclusive development of serviced apartments as part of a £2.8m investment.
The Lawrance Luxury Apart-Hotel has acquired 45 Tanner Row, just off Micklegate in York city centre. The former office building covers approximately 7,500 sq ft over three floors.
It is now being converted into 13, one bedroom apartments, which will open this autumn.
Russell Burnett from Yorkshire law firm LCF Barber Titleys advised the company on the acquisition.
The Lawrance launched its apart-hotel concept nearly five years ago in a neighbouring building on Micklegate, where it offers 14 apartments and Café74 which serves drinks and light lunches. In addition, the company has 19 luxury serviced apartments in Harrogate spread over three central locations.
Simon Bullock, a director at The Lawrance, says: “Our unique offering, which combines contemporary and centrally located fashionable apartments with exceptional customer service, has proved to be a huge success with business and leisure travellers alike. As a result our occupancy levels currently stand at more than 90 per cent and we’re regularly fully booked, which influenced our decision to grow the business further.
“45 Tanner Row is a stunning building that’s full of character in a key conservation area and is approximately 100 metres from our existing site, which made it the ideal property to expand into. All the apartments will be finished to a superb specification with full kitchens, chic dining areas and stylish lounges, as well as all the extras that discerning travellers expect such as free Wi-Fi, flat-screens and iPod docks. We’re really looking forward to launching it.”
Russell Burnett from LCF Barber Titleys, says: “The Lawrance Luxury Apart-Hotel has built up a loyal customer base and created a great reputation for itself throughout York and Harrogate in a relatively short space of time. Having worked with the company on other transactions, we have a strong relationship with them and it’s been a pleasure to advise them on this key acquisition which will pave the way for their next phase of growth.”
