The JV will identify and secure aparthotel or mixed-use sites with a primary focus around London, Oxford, Cambridge, Bristol and Edinburgh and aims to commit £200m in 2018 with a further £200m in 2019.

First Base will head up the design, planning and construction, while Native will operate the aparthotel units.

The JV will also target cities including Brighton, Reading, Manchester, York and Dublin.

“This partnership clearly demonstrates our commitment to standout aparthotel developments across the UK, at a time when the sector is set for significant expansion,” said Archie Hunter, development director at Native (pictured top, left).

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“With 20 years of experience behind us, we have established the Native brand as synonymous with outstanding service, creative design and operational efficiency.

“Our expansion will enable us to take our unique proposition to a greater range of key UK cities, addressing a significant gap in the market.”

Barry Jessup, director at First Base (right), added: “First Base and Native are kindred spirits in our appreciation of good design, and our belief in the fundamental strength of Britain’s regional cities and towns.

“Demand far outstrips supply for aparthotels in these locations, and we see homestay living playing an important role in the revitalisation of town centres.

“We will begin work on these developments as soon as we have secured the sites and planning consent, such is the demand.”