Marrico And Helios Secure £46m Funding For Lisbon Street Hotel As Caddick Brought On Board

Marrico and Helios Real Estate have secured £46 million of forward funding from Aberdeen Investments for the delivery of a new room2 hotel in Leeds city centre, set to be built by Caddick Construction.

The development will be located on the former Leeds International Swimming Pool site and forms part of the wider Lisbon Street regeneration in the West End of Leeds. Marrico and Helios will act as developer, with Lamington Group secured as operator under its room2 hometel brand.

The 16-storey scheme will comprise 200 hotel rooms, including a mix of studio and suite accommodation designed to cater for both short- and extended-stay guests. The development will also include a ground floor café and bar under the Winnie’s brand, alongside meeting and events space, a gym, laundry facilities and retail concessions.

Construction is scheduled to commence in May 2026, with Caddick Construction appointed as main contractor. The scheme is targeting completion in Spring 2028.

Designed by DLA Architecture, the building will be fully electric and powered by renewable energy, supporting a low-carbon and sustainable approach to hospitality in line with room2’s brand positioning.

Scott Barnes, Development Director, Marrico said:

“This has been a highly collaborative process with Helios, Aberdeen, Room2 and Caddick Construction, alongside the wider design team. We are proud to have brought the project forward to this stage. Securing funding is a significant milestone and we look forward to delivering another high-quality hotel in Leeds following the completion of Hyatt at Sovereign Square” Scott Barnes, Development Director, Marrico

Zoe Cartner of Helios Real Estate added:

“We are delighted to have reached this milestone and to be continuing our partnership with Marrico. Lisbon Street is a key regeneration site and this scheme will make a strong contribution to the area.” Zoe Cartner of Helios Real Estate

Robert Godwin, CEO of Lamington Group, said:

“Our ambition is to deliver hometels across the UK which combine great guest experiences with a responsible approach to hospitality. We’re excited to be bringing a new sustainability-led room2 hotel to Leeds in partnership with Aberdeen Investments, Helios Real Estate and Marrico LLP.” Robert Godwin, CEO of Lamington Group

Steve Ford, Regional Managing Director of Caddick Construction Yorkshire & North East, added:

“We are very proud to be appointed as main contractor on this landmark scheme in Leeds. The Lisbon Street development represents an exciting opportunity to contribute to the ongoing regeneration of the West End, delivering a high-quality, sustainable hotel that will support the city’s growing hospitality sector.

“Working alongside Marrico LLP, Helios Real Estate and the wider project team, we look forward to bringing forward a development that meets the highest standards of design and construction, while aligning with ambitious environmental targets. This project further strengthens our presence in Leeds and underlines our commitment to delivering complex, city centre schemes across Yorkshire and the North East.” Steve Ford, Regional Managing Director of Caddick Construction Yorkshire & North East

DLA Architecture has been appointed as architect for the scheme. Richard Boothroyd & Associates acted for the developers as EA/QS.

Square One Law acted for Marrico, while Addleshaw Goddard advised Aberdeen Investments.