Partner Article

Loan approved for new £5 million hotel at Lancashire County Cricket Club

Greater Manchester Combined Authority (GMCA) have agreed to provide a £5 million loan to Lancashire County Cricket Club.

This means that the plans to create a brand new 150 bedroomed hotel in Trafford at the club have moved a step closer.

The hotel would replace the outdated 68-bed hotel at the Club as part of a multi-million pound regeneration of the site with the aim of bringing Test Match cricket back to the region.

The hotel will also create 76 jobs in the local area, and bring wider investment in the region, estimated at £2.3 million GVA per annum from attracting further business and footfall.

The total cost of the redevelopment is expected to be in the region of £12 million.

The club has already secured £3 million and this loan will see the total pot reach £8 million.

There is a proposal to fund the further £4m through a loan from Trafford Council.

Vice chairman of Lancashire County Cricket Club, David Hodgkiss OBE, said: “We are absolutely delighted that the Combined Authority has chosen to support this next phase of the development of our fantastic and historic 150 year old club after the success of our innovative Cricket Bond.

“The £5 million financing from The Growing Places and Regional Growth funds reinforces our position as a leading member of the community for Trafford and Greater Manchester.

“As a Community and Benefit Society, all of our profits are reinvested into facilities and employment that all benefit our residents and visitors.

“Alongside the funds raised through the cricket bond this is the next stage of financing to enable the development of a new 4 star 150 bedroom hotel here at Emirates Old Trafford.

“This project will eventually lead to the creation of £1 million worth of annual employment right in the heart of Trafford.”

This was posted in Bdaily's Members' News section by Sophia Taha .