- Ancoats Manchester has secured a £15.7m development and trading facility from OakNorth to deliver a 154-key Motto by Hilton hotel in Manchester city centre;
- The hotel will be one of the first Motto-branded properties in the UK, targeting modern, urban travellers with flexible room formats and a tech-enabled guest experience;
- The project is backed by experienced developers and operators, including Dean Street Developments and Assured CMS;
- Located near major regeneration zones and attractions like Co-op Live and Etihad Stadium, the hotel is expected to open in late 2026.
Manchester, UK – Wednesday 21st May, 2025 – OakNorth – the leading bank for entrepreneurs, by entrepreneurs – has provided Ancoats Manchester with £15.7m to develop a new 154-key Motto by Hilton hotel in Manchester’s thriving East Village.
The hotel will be operated under Hilton’s innovative Motto brand, designed for the modern, urban traveller seeking flexible, connected spaces in city-centre locations. It will mark one of the first Motto hotels to open in the UK, as Hilton expands the brand’s international footprint following successful launches in cities like New York, Rotterdam, and Tulum. Located near the Etihad Stadium and Co-op Live Arena, the hotel will be strategically positioned to capture demand from both leisure and corporate travellers. It will offer modern, tech-enabled guestrooms, along with the brand’s signature Motto Commons area, comprising a bar, café, and co-working space. The concept also features linking and flex rooms, allowing guests to configure their stays to suit family or group travel.
The £15.7 million facility provided by OakNorth will fully fund development and finance costs over a 25-month construction period, before converting into a trading facility for the hotel’s operational phase. The project has already received planning approval, and construction is expected to commence later this year with practical completion anticipated by Q3 2026. Led by an experienced development team, the project is being spearheaded by Adi Hodzic of Dean Street Developments, alongside Jeff Britnell of Assured CMS.
Adi Hodzic, Development Manager, said: “The Hilton Motto brand is a great fit for Manchester’s vibrant and evolving cityscape. With OakNorth’s support, we’re confident in delivering a best-in-class hospitality experience that speaks to the next generation of travellers. It’s incredibly rare to find a funding partner that not only understands the nuances of hotel development but is also willing and able to provide a facility that covers 100% of the development and finance costs, and then flexibly converts into a trading loan. OakNorth is one of the few banks out there that can structure deals like this making it the ideal banking partner for our business.”
Deepesh Thakrar, Senior Director of Debt Finance at OakNorth, commented: “This deal exemplifies our commitment to backing high-quality, forward-looking hospitality developments in prime UK locations, as well as our ability to provide umbrella facilities, where we’re able to support the business in the buy, build, and stabilise of the hotel all under one agreement. This means the team can cut out the time needed to refinance once the hotel is built, saving them a big headache further down the line. Adi and the team have an outstanding track record and a strong vision for bringing Hilton’s Motto brand to life in Manchester, so we’re proud to play a role in supporting this exciting regeneration project.”
ENDS
Notes to editors
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided c.£12.5bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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