Mill Lane/Marick/Topland JV Completes Sale of Hotel
The Joint Venture between Mill Lane Estates, Marick Capital and Topland have sold the Holiday Inn Express, Trafford City, Manchester, to Meteorite Group, a wholly-owned subsidiary of Hiap Hoe for £26 million. Hiap Hoe are listed on the Singoporean stock exchange.
The 220 bed hotel, which opened in May, is the north-west’s first modular hotel with the bedroom modules supplied to site fully fitted out in steel containers.
Brandon Riley from Mill Lane Estates commented “We are delighted to have been instrumental in the delivery of this hotel from concept through to completion and now the onward sale to Meteorite Group. The combined blend of expertise within the JV has created an entrepreneurial and well-funded business that can now capitalise on further hotel development opportunities following this successful project.”