In The Lobby | October 2015 | Zeal Projects

IN THE LOBBY ISSUE 2.OCTOBER 2015.
Staycity Serviced Apartments – York
WELCOME.
Welcome to our second IN THE LOBBY newsletter giving you a few market thoughts and a selection of
updates and information on a few new hotel projects Zeal Projects are working on.
Construction costs are still on the increase, albeit a little slower perhaps now than we have experienced over the last 12 months. The latest predictions from the RICS’ Building Cost Information Service (BCIS) show annual tender price increases moderating at 5% per year in 2015 and 2016. This level of annual increase is likely to continue through to 2020 based on the existing & estimated construction demand.
The Serviced Apartment/Aparthotel market is expanding at a furious pace in the UK with a number of brands and institutions looking to invest & develop assets in strategic locations. Zeal Projects is presently on site with 6 Serviced Apartment/Aparthotel developments for brands including; Staycity, SACO/Beyonder & Lamington Apartments and there are more in the pipeline.
We have understood the operational advantages of this market for some time & it is encouraging to see that it is now becoming a respected sector of the UK hotel market. We understand the design & cost aspects of Hotel/Serviced Apartment & Aparthotel developments and through possible design tweaks & VE we are creating cost efficiencies which add tangible value to our clients’ proposed developments.
NEW APPOINTMENT.
RICHARD OSBORN JOINS TEAM ZEAL - Richard is a specialist commercial Project Manager with over 15 years experience in the construction industry. Richard joins Zeal Projects as a Senior Project Manager and will be working on existing Hotel & Aparthotel developments in Aberdeen, Glasgow & Chiswick. Tim Wheeldon, Managing Director of Zeal Projects commented, “Richard is a highly respected Project Manager with significant experience in the hotel & leisure sectors of the market & we are very pleased to bring him on board to assist us with the increased pipeline of hotel work. ”
Richard can be contacted at richard@zealprojects.com
IN THIS ISSUE:
Appointment
York - update Chiswick
Aberdeen - Union Glen Reading
HOGS
STAYCITY SERVICED APARTMENTS - YORK .
Work commenced on this new build 197-bedroom development in January 2015 and we are please to report this project is presently on time & budget.
Further information can be found at www.zealprojects.com/publications
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Further information on the projects mentioned in this newsletter can be found on our website: www.zealprojects.com