Mills & Reeve advise Marick on Oxford city centre development partnership
Leading national law firm Mills & Reeve has advised Marick Real Estate on its appointment as development partner for the regeneration of 38-40 George Street, Oxford following a competitive public procurement process.
Marick Real Estate has joined forces with Makespace Oxford to deliver a new cultural community space in the town centre, alongside an aparthotel to be operated by Dublin-based operator Staycity Group, under its premium Wilde brand.
Plans will also include improvements to the public realm and incorporate sustainable practices in both building design and throughout construction. The development will also offer apprenticeships for people in Oxford both during construction and once the hotel is operational and include a commitment to paying all staff at the aparthotel the Oxford Living Wage.
Patrick Going, managing director at Marick Real Estate said: “We are delighted to have been selected for this project working with the City Council, engaging with the local community and stakeholders to regenerate the George Street site for a new aparthotel and much needed community space.”
Caroline Hanratty, real estate partner at Mills & Reeve, said: “Marick is a long-standing client of the firm, and it is excellent news that it has been appointed on this prestigious redevelopment. Marick has fantastic expertise and experience in city centre redevelopment, and we look forward to advising the team throughout the project.”
“We’re also really pleased to be involved in this project given we’ve recently opened our seventh UK office in Oxford. The Oxford region has great synergies for us in terms of a number of our core sectors including education, life sciences, real estate investment, private wealth and technology, and the area continues to be a key focus for business, government and private investments.”
Councillor Susan Brown, Leader of Oxford City Council and Cabinet Member for Inclusive Economy and Partnerships, said: “This is a once-in-a-generation redevelopment. We are extremely excited to see the building regenerated. Oxford City Council has been encouraging more hotels to open in Oxford city centre to help boost the local economy. Those staying overnight spend, on average, about 1.5 times more than those on day trips so providing central accommodation is vital.”
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