A LUXURY £10million apartment block with more than 130 state-of-the-art 'hotel suites' is set to be built in Burnley.

Aimed at business professionals and students, they can be rented for between one night and twelve months.

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The apartments, in the 'On The Banks' development , will be built behind the new Sandygate Square, as part of the Weavers' Triangle transformation.

MP Gordon Birtwistle said it would be a 'massive' scheme for the town and it was brilliant to see the area, once derelict, improved.

Padiham company, Group First, which is behind the £10.6 million buy-to-let development, also has plans afoot to build two more similar sites in the North West.

Each of the 134 identical capsule suites in the new building is designed for luxury living with the latest high technology, the commercial property specialists said.

They will include smart TVs and heating, Lutron lighting with iPhone controls, a double bed, kitchen area, workspace and washer-dryers.

Lancashire Telegraph:

Group First said the site would also benefit from a 24-hour concierge service, 60 free parking spaces, a communal gym fitted with the latest Technogym equipment, a Costa coffee shop and an outdoor amphitheatre and seating area.

The Burnley Apartel suites will be available from around £75 per night, or £150 per week, with a sliding price scale depending on length of stay.

A spokeswoman for the company said the long-term lets would be 'affordable' for students.

She said: "The student population is increasing and there is no real student accommodation in the town currently.

"It will cater for students - to give them an option.

"It can also be used for business people who work in the area during the week and travel home at weekends.

"It's also an alternative to a budget hotel for professionals."

Builders will start on-site in January next year and the complex is due to be finished in early 2016.

Barnfield Construction is behind the 'On The Banks' development, and Group First will be using the contractor to build the Apartel development The amphitheatre common area has already been completed, and there are plans to use the space for live performances and exhibitions, as well as light shows, which light up the University Technical College (UTC), Managing director of Group First, Toby Whittaker, said: "Apartel is a revolutionary new concept in buy-to-let.

"We identified a gap in the market for an investment engine that gave consumers the flexibility they crave.

"And the beauty really is in the flexibility at every stage - from who can stay there, to how long and even down to multiple income streams for investors.

"Amazingly, all of this will cost less than a night at your local budget hotel chain - it sounds incredible but it's a business model that can really work and compete at the highest level.

Lancashire Telegraph:

"The Apartel development is currently in for planning with the council and we’re hoping for approval soon."

Apartel Burnley will be available for investors to purchase a single suite or multiple suites.

Guests will be able to book rooms in the complex using the Apartel app or through www.apartel.com.

Burnley MP Gordon Birtwistle said: “This is a massive development for the town and will bring more young people in.

"It’s near the train station, so it will be great for people going to and from Manchester.

“That whole area has gone from being a derelict mill to being completely transformed.”