Evans Property Group has received planning permission from Leeds City Council to transform the former ‘stacker’ car park on Greek Street in central Leeds into a luxury hotel which will be operated by award-winning boutique hotel chain, Dakota Hotels.
The new hotel forms part of Evans’ ongoing multi-million pound investment in the Bond Court area of the City where neighbouring buildings, Minerva and Capitol House, are being extensively remodelled.
10 storey, 90 bedroom hotel
The approval provides consent for the decommissioned car park and adjacent restaurant to be demolished to make way for a 10 storey, 90 bedroom hotel. The consent includes a basement level restaurant which will be accessed off Greek Street and a ground floor bar and terrace area. The main lobby, meeting rooms, lounge area and gym facilities will be located on the first floor with the luxury rooms and suites on the floors above.
The consent also allows for important public realm works to be undertaken in Bond Court, a project which Evans has been working closely with Leeds City Council to deliver in order to ensure the comprehensive regeneration of the whole area.
The multi award-winning Dakota Hotel chain, which presently has hotels in Glasgow and Edinburgh, is the brainchild of renowned hotelier and Malmaison creator, Ken McCullloch. Evans and Dakota Hotels worked together to deliver the Edinburgh hotel some six years ago, so this latest agreement continues a successful working relationship for the companies.
Alan Syers, Portfolio Director at Evans Property Group, said; “Immense consideration was given to how best to utilise this strategic site in the heart of the City’s business district and we are delighted that our plans for a luxury hotel have received the green light. We are committed to investing in Leeds and having seen how well our Edinburgh venture with Dakota Hotels has progressed, we were keen to bring this unique offering to our home city. We are confident that this new venture will be a superb addition to Leeds’ hotel offering and will successfully regenerate a redundant site in one of the city’s most important locations.”
Evans is looking to appoint contractors in the forthcoming weeks with a view to commencing demolition as soon as possible. Working to these timescales would facilitate a projected completion date of mid 2016.
About Evans Property Group
The Evans Property Group is a long established private property investor and developer, with a property portfolio consisting of Grade A investment properties with secure long leases together with a substantial development land bank.
Evans is a major investor in Leeds and the wider Yorkshire region. Property assets include Minerva and Capitol Houses where multi-million refurbishments are underway, 1 Park Row and White Rose Shopping Centre to name a few as well as strategic land interests in the Aire Valley.
The group is in a very strong position with an investment portfolio of exceptional quality in terms of covenant strength and lease length, a significant development pipeline, including substantial strategic land holdings in the Aire Valley and a successful and growing non-property investment portfolio. The group’s balance sheet is strong with net assets in the region of £350m, substantial borrowing facilities in place and gearing of around 35%.