GROSVENOR SIGNS EDYN TO DEVELOP A NEW SITE AT LIVERPOOL ONE
Grosvenor Britain & Ireland announces that innovative hospitality group, edyn, has signed to develop a new site at Liverpool ONE, further diversifying the destination’s offering, while adding to the accommodation group’s expanding portfolio of extended stay sites across the UK and Europe.
The new 60,000 sq ft of contemporary serviced apartment space will be located at 39 Paradise Street and will open its ten-floor site to guests in summer 2021, providing excellent access to Liverpool city centre and its surrounds, as well as Liverpool ONE’s diverse retail, leisure and dining offering.
As an industry leader in long-stay accommodation, edyn has built a distinctive portfolio across the UK and Europe, which includes SACO serviced apartments, lifestyle aparthotel brand Locke, The Moorgate, and Wittenberg. edyn’s carefully designed, flexible apartments appeal to both business and leisure guests, for long- and short-term stays – which has allowed the group to rapidly expand despite current industry challenges.
The significant 25-year signing reflects the resilience and strength in performance of Liverpool ONE and edyn alike, and signals edyn’s renewed appetite for leases in regional UK cities. From March to October 2020, edyn maintained an average occupancy of 65% across its portfolio despite Covid-19, reflecting consumer demand for self-contained accommodation. Combined with edyn’s adaptable business model and efficient operational structure – the group has cemented itself as ‘one to watch’ in the new future of travel.
Alison Clegg, Managing Director of Asset Management at Grosvenor Britain & Ireland, commented: “This commitment from edyn, as a highly credible, successful and unique operator, strengthens Liverpool ONE as a leading mixed-use destination. Just as we are on the front foot of retail and leisure trends, this new accommodation concept will see Liverpool ONE equipped for post-Covid tourism and visitation needs. Alongside the raft of recent signings and regears, this deal with edyn signifies a bright year for Liverpool ONE ahead.”
Stephen McCall, CEO of edyn, commented: “We are thrilled to be working with Liverpool ONE and Grosvenor to develop edyn’s latest site, and to establish new roots in such a vibrant urban location. As proven over the last 12 months, our quality-focused, long-stay accommodation model naturally aligns with evolving travel needs, positioning us as leaders for the new chapter of hospitality ahead. We look forward to unveiling this compelling new address for edyn at Liverpool ONE, which forms a key part of our dynamic international portfolio.”
The signing of edyn follows a series of significant leasing announcements including South East Asian bar and brasserie, Mamasan, and a new premium golf simulation concept, On The Green. It also follows news of Liverpool ONE’s investment in works across the 42-acre estate to welcome and inspire visitors upon their return.
Savills acted for Liverpool ONE. edyn dealt directly.