PREM announces lucrative property link-up in UK

PREM Group, who specialise in the management of hotels, apartments and offices, have announced a partnership deal with UK firm Blueroom Properties.

Blueroom work in urban regeneration and is the private development arm of the UK social housing provider Places for People group.

The new partnership arrangement will see the PREM Group operate city centre Blueroom developments as serviced apartments in Nottingham and Newcastle.

The properties have a combined value of €29m.

The deal relates to the lease of the Ice House, 52 loft-style apartments in Nottingham city centre, and Tyne Square, 28 apartments in a new community area in Newcastle city centre.

This latest news follows the recent announcement by PREM Group of a €350m investment programme and plans to open 18 new hotels in Ireland and 50 in the UK over the next five years.