23. Januar 2012 
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Malmaison agreement to lease new Dundee hotel
Malmaison it is to open its first new hotel since concluding a refinancing agreement last year and the appointment of Gary Davis as the hotel group's new chief executive. An agreement to lease has been concluded for a new 91 bedroom hotel in Dundee, Scotland's fourth largest city.
The new Dundee Malmaison is being created on the site of the old Tay Hotel, a listed city centre landmark building, and forms part of the substantial one billion British Pounds “Dundee Central Waterfront Development” that forms an integral phase in the city's multibillion regeneration of its historic waterfront which includes a new 45 million British Pounds V&A museum. The vacant Tay Hotel is being redeveloped by M.E.C. Services (International) Ltd. The developer will work closely with the Malmaison team to create an international standard lifestyle boutique hotel. The site is both close to the city centre, the Firth of Tay waterfront, the new V&A museum and the mainline station.
Bounded by Whitehall Crescent to the north and west and Dock Street to the south and east, the redevelopment will start in spring 2012 with completion expected in May 2013. On completion it will create 120 new jobs and become Malmaison's 13th hotel. Malmaison is to take a 35 year FRI lease with an option to extend for a further 35 years. The lease is based on five year RPI-linked rent reviews that are capped and collared.
The one billion British Pounds transformation of Dundee's Waterfront spans 240 hectares of land stretching 8km along the River Tay, it is the second largest regeneration project in Scotland and is within the top twenty such projects throughout the UK. The Waterfront will provide a home for the V&A's new museum in Dundee which will be an international centre for design and is due to open in 2015.
The new Dundee Malmaison is being created on the site of the old Tay Hotel, a listed city centre landmark building, and forms part of the substantial one billion British Pounds “Dundee Central Waterfront Development” that forms an integral phase in the city's multibillion regeneration of its historic waterfront which includes a new 45 million British Pounds V&A museum. The vacant Tay Hotel is being redeveloped by M.E.C. Services (International) Ltd. The developer will work closely with the Malmaison team to create an international standard lifestyle boutique hotel. The site is both close to the city centre, the Firth of Tay waterfront, the new V&A museum and the mainline station.
Bounded by Whitehall Crescent to the north and west and Dock Street to the south and east, the redevelopment will start in spring 2012 with completion expected in May 2013. On completion it will create 120 new jobs and become Malmaison's 13th hotel. Malmaison is to take a 35 year FRI lease with an option to extend for a further 35 years. The lease is based on five year RPI-linked rent reviews that are capped and collared.
The one billion British Pounds transformation of Dundee's Waterfront spans 240 hectares of land stretching 8km along the River Tay, it is the second largest regeneration project in Scotland and is within the top twenty such projects throughout the UK. The Waterfront will provide a home for the V&A's new museum in Dundee which will be an international centre for design and is due to open in 2015.
