Sintons support Malhotra Group’s £35 million expansion plans
A £35m plan to create a luxury hotel complex with a rooftop swimming pool, nightclub, restaurants and retail outlets in central Newcastle has been revealed.
The Malhotra Group has unveiled a multimillion-pound scheme which will transform a number of buildings in the Grainger Town area, reinvigorating a huge property plot with a 120-bedroom hotel at the heart.
The Newcastle-based leisure group, which also operates care and property divisions, has acquired a number of buildings around Grey Street over the past few years, with a view to creating a landmark hotel for the city centre.
The new scheme – which encompasses nine existing building, seven of which are Grade II listed – goes far beyond the Malhotra Group’s initial ambitions, outlined seven years ago, where up to £15m was to be invested in creating a 55-bed hotel on Grey Street.
The development will also help strengthen the company’s foothold on Grey Street, where it already operates the boutique Grey Street Hotel, which recently underwent a £1.2m refurbishment.
The site of the development – which is being overseen by designers Space Architects, and supported legally by law firm Sintons – will stretch from Grey Street down to its junction with Mosley Street and across to the lower part of Cloth Market. It includes the famous Balmbras music hall at the Cloth Market, with the aim of restoring it to its original identity, along with a plan for Drury Lane – the site of the original Theatre Royal – which will be home to a number of retail outlets within a glass covered cobbled street.
Full plans for the scheme will be presented to Newcastle City Council by the end of the year, with a view to starting the refurbishment in spring 2018, subject to planning permission being granted. Providing permission is given, the development would be open by the end of 2020.
Meenu Malhotra, group chairman of the Malhotra Group, said: “This is a huge and impressive development that should bring more visitors in the city centre.
“As owners of the Grey Street Hotel, we are well aware of the importance of ensuring that any development in this area celebrates its history and we believe this new hotel will be a huge asset, not just to Grey Street, but to the city as a whole.
“It’s a very ambitious scheme, and we will work very closely the city planners and conservations department in respecting all aspects of the historic architecture to ensure these landmark buildings are brought back to their former glory.”
Newcastle law firm Sintons are the long-standing legal advisors to the Malhotra Group, with Commercial Partner Christopher Welch handling commercial work and Alok Loomba, Partner in the Real Estate team, overseeing all property aspects.
Alok Loomba said: “This is a hugely ambitious plan from the Malhotra Group, which promises to see major investment made in regenerating and restoring some of the city’s finest buildings, as well as the creation of significant employment opportunities.
“The group are already known for creating some of the city’s best-known and well-regarded venues and continually innovate to bring something new and different to the Newcastle leisure scene. We are very pleased to be able to support them in developing plans for this latest project, one of their most exciting to date.”