Cookstown-based construction firm McAleer & Rushe has secured a £82m deal to build a London hotel development.
The contractor has confirmed that work is to begin on a 620 room hotel and hybrid aparthotel development in Paddington.
The new development is expected to open late summer 2021 and will be constructed on an existing two-storey basement.
Once completed it will feature a 373 bed Premier Inn and a 247-bed Staycity aparthotel across 19 floors.
The development will also deliver 27,000 square feet of social and community floorspace.
The project will create both short- and long-term jobs and with the upcoming launch of the Elizabeth Line will further support the economic regeneration as Paddington continues to grow as a hub for business users as well as leisure visitors to the City.
Led by developer Concierge 3, a consortium of BSW Land & Property, Staycity and The Pickstock Group, the scheme is the final stage of the Paddington Basin Masterplan and part of a wider investment which has seen new offices, shops, homes and leisure facilities being built over the last number of years revitalising this unique location.
Commenting on the development Emmett McGinley, Commercial Director, McAleer & Rushe Contracts UK said: “We are looking forward to working as development partners with Concierge 3 and all shareholders in delivering this exciting project within the wider Paddington regeneration masterplan.
“Our experience in delivering high quality mixed-use buildings will ensure this project is a real success and is currently our second major development in Paddington Basin.” Rabeea Shamsi CEO of BSW Land and Property, spokesperson for Concierge 3 Ltd said that they would be working closely with McAleer & Rushe throughout the project and looked forward to seeing the investment come to life on site.