The Airport Property Partnership (APP), a joint venture between Morley Fund Management and the British Airports Authority, has announced a new hotel to be built at Aberdeen Airport.
The 50/50 jv, set up in March 2005 to invest in airport related commercial property, has joined with Marriott International to develop a 180-bedroom ‘Courtyard’ hotel.
The hotel will form a part of an APP mixed-use development at Argyle Road near the airport’s main passenger terminal.
Marriott will get a long ground lease on the site, near to the headquarters of Halliburton and British Petroleum, and will include a business centre and a retail centre.
Fastest growing
baa Aberdeen, hailed as Scotland’s fastest growing airport, is used by 3m passengers a year.
The hotel, due for completion in 2009, will be Marriott’s second ‘Courtyard’ in the UK following the current hotel under development at Gatwick Airport..
Jones Lang LaSalle and Ryden acted for APP while Marriott was advised by CB Richard Ellis.
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