Developers Urban&Civic have unveiled plans to build a 330-room hotel adjacent to the main terminal building at London Stansted Airport. Around two acres of land has been set aside for the project following the exchange of conditional contracts between Urban&Civic and Manchester Airports Group (MAG), the operator for London Stansted.
The developers have agreed a fixed consideration fee of £8m (US$12.4m) for the hotel site with construction work starting in July 2015 and ending in time for Christmas 2016. The hotel will be operated by a major branded franchise.
Robin Butler, managing director of Urban&Civic, said, “This is a very rare development opportunity. Continuing enhancement of the rail, road and air links at the heart of the Cambridgeshire growth corridor are imperative to maintaining economic momentum and competitiveness on a global scale. Urban&Civic has already committed substantial investment within the wider region and sees London Stansted Airport as an essential component in the growth story. Working in partnership with MAG we will ensure that we deliver a new hotel of a quality and standard which appropriately reflects this opportunity.”
Lynda Shillaw, CEO for MAG Property, said, “This opportunity is a significant step for development at Stansted, providing a key facility to support the growth of the airport and opportunities for the local community through the jobs that it creates.
“Conditional planning for the hotel has been granted but an operator is yet to be agreed and we are working closely with Urban&Civic to ensure that a high quality development is delivered. The deal is testament to Stansted’s growth potential as the UK’s fourth busiest airport, where currently approximately one million passengers per year are being added.”