STAYCITY ADDS MANCHESTER’S NORTHERN QUARTER TO FAST-EXPANDING ESTATE
May 31, 2023 9:14am
30 JUNE 2021, Dublin: Dublin-based aparthotel specialist Staycity will next month [July] 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 a 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.
Northern Quarter is Staycity’s second property in Manchester. The award-winning 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.
“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,” commented Staycity’s development director UK Simon Walford,
This 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 Football Club, and the bustling Central Retail District. Victoria Station is a 10-minute walk away,
Aparthotel operator Staycity 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.
Award-winning, Dublin-based Staycity Group is one of Europe’s leading aparthotel operators and, by year end, will be operating over 5,000 apartments in 14 locations with properties in: Berlin, Birmingham, Bordeaux, Dublin, Edinburgh, Heidelberg, Liverpool, London, Lyon, Manchester, Marseille, Paris, Venice and York.
Staycity was established in 2004 by CEO Tom Walsh and his brother Ger specialising in quality short- and long-term aparthotel lettings in prime city locations. The properties, which are popular with both leisure and business travellers, operate under the Staycity Aparthotels and Wilde Aparthotels by Staycity brands.
Staycity’s modern and comfortable apartments offer a fully equipped kitchen and dining area giving guests the choice of dining in, or out. The aparthotels have 24-hour reception and most have a Staycafé selling drinks, snacks and breakfasts, a guest lounge, gym and guest parking.
Staycity has introduced a fully comprehensive guest and staff health safety policy, details of which can be viewed here https://www.youtube.com/watch?v=CMO9lqOQNP8
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 UK bank OakNorth, enabling it to emerge from the pandemic fully capitalised. www.staycity.com.
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