Plush luxury one-bedroom apartments are coming to Burnley as part of a £10.6m. development at the Weavers’ Triangle.
134 upmarket suites, called Apartel Burnley, will be built as part of the On The Banks regeneration scheme and are the first of their kind to be unveiled by Group First in the UK.
In a new buy-to-let property concept, the suites can be rented flexibly from one night to one year and each identical capsule suite will be all about high technology and luxury living - with smart TVs and heating, Lutron lighting with iPhone controls, a double bed, kitchen area, workspace and state-of-the-art washer dryer.
The building will also have a 24-hour concierge service, 60 free parking spaces, a communal gym, a Costa coffee shop and an outdoor amphitheatre and seating area.
The suites are designed to work in a variety of ways. They can be a student let, a business commuter crash pad, a starter flat or simply an affordable alternative to budget hotel chains as an Apartel suite will be available from around £150 a week, with a sliding price scale depending on length of stay.
Group First, who are working in partnership with Barnfield Construction, says it has been careful to develop Apartel sympathetically to embrace the history of the area and promote its heritage.
After fine-tuning a prototype at their Padiham headquarters, Group First managing director Toby Whittaker says the formula is almost ready to be unveiled to the public and investors.
He said: “Apartel is a revolutionary new concept in buy-to-let. We identified a gap in the market for an investment engine that gave consumers the flexibility they crave.
“And the beauty really is in the flexibility at every stage - from who can stay there, to how long and even down to multiple income streams for investors.
“Amazingly, all of this will cost less than a night at your local budget hotel chain - it sounds incredible but it’s a business model that can really work and compete at the highest level.”
Apartel Burnley will be available for investors to purchase a single suite or multiple suites.
The next two Apartel sites will be announced in the new year.