Priority Sites has teamed up with hotel developer Starboard hotels to develop an £18m office park and hotel scheme in Gateshead.
The Yorkshire-based developer announced the collaboration, its first with a hotel developer, at MIPIM in Cannes this week.
The joint venture will submit a planning application in April for a 40,000 sq ft office park and a 70,000 sq ft, 202-bedroom Holiday Inn Express Hotel.
Complementary partner
‘This is a unique opportunity to partner, for the very first time, a company who will provide a complementary product to our own,’ said David Carr, chief executive of Priority Sites.
‘Priority Sites has recognised a need in this area for the kind of business accommodation that will play a crucial role in attracting inward investment, while enabling local companies to expand in order to sustain and encourage employment.’
The brownfield site, at Hawks Road next to the Gateshead Millennium Bridge, was previously industrial units and homes.
Priority Sites, owned by English Partnerships and Royal Bank of Scotland, will focus on the office park.
Starboard is currently negotiating with Intercontinental Hotels over a franchise agreement.
Subject to planning being granted construction would begin at the end of this year with completion by 2010.