Marrico, in joint venture with Helios Real Estate, has secured £46 million of forward funding from Aberdeen Investments for the delivery of a new room2 hometel in Leeds city centre. The scheme, located on the former Leeds International Swimming Pool site, forms the third phase of the wider Lisbon Street regeneration in the West End of Leeds. Marrico will act as developer, with Lamington Group secured as operator under its room2 hometel brand, following the completion of an Agreement for Lease.
The 17-storey development will comprise 200 rooms, including a mix of studio, one- and two-bedroom suites, combining the flexibility of apartment-style living with the services of a traditional hotel. The scheme will will include a ground floor café and bar under the Winnie’s brand, meeting and events space, a gym, laundry facilities and retail concessions.
Designed by DLA Architecture, construction is due to commence in May 2026, with Caddick Construction appointed as main contractor. The development is targeting completion in Spring 2028.
The building will be fully electric and powered by renewable energy, supporting room2’s ambition to deliver low-carbon, sustainable hospitality and offering guests carbon-neutral stays.
Scott Barnes of Marrico said:
“This has been a highly collaborative process with Aberdeen, room2 and Caddick Construction, alongside the wider design team, and we are proud to have brought the project forward to this stage. Securing funding is a major milestone and we look forward to delivering another high-quality hotel in Leeds following the completion of the Hyatt.”
Legal & General has completed the acquisition of the 305-room Hyatt Place & Hyatt House Leeds for its Managed Property Fund.
The dual-branded hotel, delivered by Marrico Asset Management alongside JV partner Helios Real Estate, opened in March 2025 and forms a key part of the Sovereign Square regeneration.
Comprising a mix of short- and long-stay accommodation, alongside food, beverage, and leisure facilities including a rooftop bar, the scheme represents a significant addition to Leeds City Centre.
The acquisition reflects continued strong investor confidence in the city and in high-quality, institutionally-backed hospitality assets.
Azotea Rooftop Bar & Restaurant, located at the top of the Hyatt Place & Hyatt House Leeds development, has officially opened, introducing a new destination rooftop venue to the city.
Offering panoramic views across Leeds City Centre, Azotea brings a vibrant Latin American-inspired concept to the city’s hospitality scene, combining high-quality dining with a lively rooftop experience.
Marrico Asset Management has been closely involved in the creation, design, and delivery of the venue as part of the wider hotel development, which forms a key part of the Sovereign Square regeneration.
The opening of Azotea marks another milestone for the scheme, further enhancing Leeds’ food, beverage, and leisure offering.
We are pleased to announce the successful completion of this landmark development in Leeds City Centre.
The site, acquired from Leeds City Council under a development agreement, was formally purchased in May 2022. Planning permission was subsequently secured for a 14-storey, 305-room Hyatt Place & Hyatt House hotel.
The scheme includes a ground-floor restaurant and a rooftop bar, offering panoramic views across the city, alongside a mix of short- and long-stay accommodation designed to meet a broad range of guest needs.
Construction commenced in May 2022, with the project reaching completion in early 2025.
This development represents a significant addition to Leeds hospitality and leisure offering, combining high-quality accommodation with vibrant food, beverage, and social spaces.
We are proud to have delivered this project and look forward to seeing the positive impact it will bring to the city.
