Acting on behalf of successful Irish developer and fit-out specialists Errigal Contracts, Saxbury was instructed to advise on the redevelopment of an asset in Milton Keynes. The building was in a dilapidated condition but came with planning permission for use as serviced apartments.

Errigal applied to extend the footprint of the property to create additional units and add balconies to many of the apartments. Drawing on extensive knowledge of serviced apartment design, Saxbury liaised with the architect to realise optimal extended stay layouts – influencing the specification of the bedrooms, kitchens, and bathrooms as well as front and back of house areas.

Once settled on the perfect design, Saxbury produced a detailed shadow P&L to underpin the business case before launching an operator search campaign predominately to UK-based extended stay specialists.

Once planning permission was granted, Saxbury brought the operator and landlord together to agree on a 20-year FRI lease. Now completed, the 65 boutique apartments benefit from keyless locks, air conditioning and stylish kitchens with integrated appliances, as well as no minimum stay restrictions.