The historic Grey Street in Newcastle is about to get a makeover. A world class luxury hotel which is part of a £15m scheme is set to come up in the area. The hotel is the brainchild of the wealthy Malhotra family, which owns DAV Developments. The Malhotras have purchased over £5m worth of property in the area over the past four years. They have already submitted their proposal for a 55-bed hotel which is being called “The Dorchester of the North”.
According to the plans, the new hotel will have separate entrances on Grey Street, the Cloth Market and Mosley Street. It will also house four restaurants. However, the Malhotras are not content with simply a splendid hotel. They have additional plans of carrying out modifications to give Drury Lane a New York feel. Also on the cards is a rooftop restaurant overlooking Grey Street and turning the former music hall in the Cloth Market’s Balmbras pub into a space for holding events like weddings and corporate dos.
DAV Developments plans look poised to infuse new life into the currently rundown Grey Street area. Meenu Malhotra admitted that the family wants to give back something to the North East. Of course, this should also prove a profitable venture, given that the local visitor economy in Newcastle is about £1.23bn.
DAV Developments runs care homes in the North East region and owns several commercial properties as well. Their upcoming hotel could give them the required nudge in the hospitality sector.