A new £3.28m hotel along with residential and retail space is set to be developed on land next to the Hub in Milton Keynes.
The site formerly known as CBX3 Phase 2 and re-named Aubrey Place fronts on to Avebury Boulevard and comprises just over two acres.
It is the last remaining undeveloped site in the centre of Milton Keynes owned by Palmer Capital and has remained un-developed for 10 years and considered an eyesore.
The 256 bedroom hotel will be occupied by Marriott’s Moxy hotel operation.
Developers Palmer Capital are now working on the submission of a planning application for the remainder/majority of the site which will be made up of 300 residential units plus a
new multi-storey car park.
Steven Wright, director at Palmer Capital said: “We are delighted to successfully conclude the first stages of our placemaking in central Milton Keynes, which will result in an exciting new
hotel brand for the city being delivered by a high quality operator. The project has had a number of challenges but all stakeholders involved have worked well together in bringing the project forward –
ultimately to the benefit of Milton Keynes”.