Brookgate secures pre-let with Accor for Cambridge hotel

UK developer-investor Brookgate has completed the pre-letting of the largest hotel in Cambridge to French hospitality group Accor.

The 231-bed hotel will form part of the CB1 development and operate under the Ibis brand. Accor will sign a 20-year lease with rents rising annually in line with RPI.

The development will also include restaurants and retail units fronting the Station Square, as well as the UK’s largest cycle park, consisting of 3,000 cycle parking spaces.

Brookgate received planning consent for the hotel and cycle park in July 2013. The hotel will be on site in early 2014 and is expected to open in 2015.

The announcement comes just months after it was confirmed that Tesco Pension Fund agreed to fund Twenty Two Station Road, Brookgate’s 5,991 m2 office development for a total cost of more than £32 mln (€38 mln).

The CB1 masterplan creates a new gateway to Cambridge and will provide 55,740 m2 of commercial space, 58.500 m2 of residential space and 1,000 student rooms, plus retail, restaurants and bars. The project also provides a refurbished station concourse, a new public square and a new transport interchange.

Bidwells is the funding and letting agent. Accor was unrepresented.