Safestay - April 2011
In April 2011 MREFII and Safeland Plc entered into joint venture arrangements to establish a chain of tourism driven hostels in Central London. The joint venture trades under the name Safestay and will seek to acquire existing buildings in strategic locations in London and develop them into hostels.
The first site is John Smith House, in Elephant and Castle, which is being converted into a circa 400 bed hostel with additional communal facilities for residents and is set to open in June 2012.
Key Facts
- Acquired in April 2011
- Joint venture with Safeland Plc
- Establish a chain of tourism driven hostels in London trading under the name Safestay
- First site is John Smith House - 400 bed hostel located in Elephant and Castle