London and Dublin sites earmarked for Locke aparthotels

Saco Property Group has acquired sites in London and Dublin where it intends to develop two more Locke aparthotels.

A 70,000 sq ft Tower Bridge Road site in London's Southwark, to be called Bermonds Locke, is due to open in Spring 2020. The aparthotel will have 142 bedrooms, comprising 99 studios and 43 one-beds, as well as all-day dining with outdoor seating, a coffee shop, cocktail bar, co-working facilities, two meeting rooms and a gym.

The site is named after the original spelling for Bermondsey, meaning "dry ground in a marsh". The shell and core will be delivered by Galliard Construction.

A 141,000 sq ft site situated at North Wall Quay adjacent to the 3Arena in Dublin will be called Beckett Locke. The aparthotel will comprise 241 bedrooms, comprising of 138 studios, 72 one-beds and 31 two-beds, as well as all-day dining with outdoor seating, a cocktail bar, a coffee shop/deli, co-working facility and gym.

The site, due to open in winter 2020, is named after Samuel Beckett, the Irish novelist and playwright who won the Nobel Prize in Literature in 1969. The development will be delivered by Bennett Construction.

Eric Jafari, Saco Property Group's managing director, said: "Brookfield and our aspiration is to significantly increase the size of our portfolio over the course of the next five years through the acquisition of development opportunities across Europe.

"We continue our hunt for the right development opportunities across Europe and are hopeful to make a few more exciting announcements within the very near future."

The Locke brand is already located in London, Edinburgh (pictured), Manchester and Amsterdam, with sites due to open elsewhere in London, Cambridge, Paris and Berlin between 2018 and 2020.

The acquisition of Bermonds Locke and Beckett Locke are the first new developments undertaken by Saco since its acquisition by a Brookfield Asset Management fund in March 2018.

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