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Cristiano Ronaldo's ambitious plan to build a luxury CR7 hotel in Manchester, a venture worth £27 million, has encountered a major setback.
The project, which promised to transform a Grade II-listed building into an exclusive 151-room hotel, is now on hold. Despite winning planning permission in December 2020, the property remains derelict, a state it has been in for the past twenty years.
The three-year planning permission expired on December 16, and no construction work has been initiated.
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Economic Challenges and Funding Issues
According to reports from the Sun, the hotel, anticipated to create over 900 jobs and add £56 million to the local economy, has been plagued by macroeconomic challenges and funding issues.
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A joint venture between Pestana, Ronaldo’s CR7 hotels partner, and developers Eastern Green called Southern Green Properties, the project has struggled to secure the necessary funding.
A letter sent to the council by Deloitte on behalf of the developers in September acknowledged these challenges but reiterated their commitment to the project.
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Controversies and Council Frustrations
The Manchester site has been controversial from the start, with the council even stepping in to ban billboards after the property was covered with a large advertisement.
This move was to prevent further construction delays, as the council expressed concerns about the ongoing lack of progress.
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The plan for the hotel included a range of luxurious amenities and was part of Ronaldo's expanding CR7 brand, which already boasts hotels in prominent locations like New York's Times Square and Madrid, Spain.
The delay in the hotel's development not only represents a significant economic setback but also reflects the complex challenges in repurposing historic buildings for modern uses.
The council's frustrations are indicative of the high expectations and potential impact such a project could have had on the local area.
With no clear path forward, the future of this ambitious project remains uncertain. Ronaldo's representatives and the project's partners have yet to make a definitive statement on the next steps.
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