Insurance specialist, Royal London and property developer, Fresh Lime Developments jointly announce the successful completion of funding for a prestigious site in a prime location in Bournemouth.
Arrangements have just been agreed for Royal London to forward fund Fresh Lime’s prominent new development of a hotel and residential apartment complex on Bath Road in Bournemouth. Once completed, the mixed residential and hotel complex will comprise a 131-room Malmaison hotel together with 54 luxury apartments, all with on-site underground parking.
Andrew Johnston, Head of Alternative Property Investment at Royal London Asset Management says: “We’re pleased to have secured this investment opportunity and look forward to working with Fresh Lime to deliver a high quality development”
Michael Bibring, co-founder of Fresh Lime Developments adds: “We are absolutely delighted to be partnering Royal London to deliver this very exciting scheme. The renowned Malmaison hotel group will bring a much-needed boutique offer to the town of Bournemouth. As well as 131 superb bedrooms, there will be a selection of great places to work, eat and drink – including a sensational rooftop bar – all of which will not only add a new dimension to the area, but also create many new work opportunities in the locality”
Continues Bibring: “Savills have already received a massive amount of interest in the luxury apartments being built as an integral part of this development. And, as with all Fresh Lime developments, these residential apartments will be designed to an extremely high standard, with top quality interiors throughout. What’s more, future owners will have all the added benefits of proximity to the Malmaison hotel facilities, including access to the swimming pool, spa and leisure complex”
Construction of the site in Bournemouth is expected to start later this year with completion estimated towards the end of 2020 or start of 2021.