Construction work has started on the conversion of the 1970s-built office block, Exchange Buildings on Stephenson Place, into a new 140-bedroom Premier Inn hotel and restaurant. The construction programme begins on 19 November and is scheduled to run until July 2013. The new Premier Inn hotel and restaurant will then open in August 2013, creating 45 new jobs.
Whitbread, Premier Inn’s parent company, has teamed up with Aviva Investors to transform one of Birmingham’s best known office blocks into a new hotel. Aviva is the long leaseholder of the building and is funding the development while Whitbread has taken a 25-year lease.
The new Premier Inn is located next to New Street station and the entrance to the Pallasades shopping centre, both of which are part of a comprehensive £600m redevelopment scheme which will complete in 2014 and 2015 respectively.
John Bates, Head of Acquisitions for Whitbread Hotels and Restaurants, said: “Exchange Buildings, Birmingham, is an ideal location for a new Premier Inn as our customers will benefit from its proximity to New Street station and the Pallasades shopping centre – both part of a significant redevelopment scheme – and local businesses will profit from the additional visitors attracted to the area and the jobs the hotel and restaurant will create.
“Premier Inn is one of the fastest growing companies in the UK today and the Midlands is a key area for us. Before Christmas we will open new Premier Inn hotels and restaurants in Leamington Spa, Solihull and Walsall Town Centre – quality developments that will boost our presence across the region even further. Premier Inn is the UK’s leading hotel chain and we are expanding across the country as we respond to strong demand for our high quality, affordable product in great locations.”
There are currently more than 49,000 Premier Inn bedrooms across the country today and Whitbread is on track to deliver its target of 65,000 bedrooms by 2016.