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Psyche celebrates 25 years as hotel scheme is unveiled

Middlesbrough department store Psyche celebrated its 25th birthday this week as owner Steve Cochrane prepares to unveil a fashion-themed hotel.

Cochrane has received planning validation to add the hotel to the top of the Psyche building, adding an extra 25,000sq ft of space. He is exploring the idea of having fashion-themed guest rooms in partnership with brands including Ralph Lauren and Sand.

He said: “Ralph Lauren would be cherry wood and Sand would have a Scandinavian, minimalist design.”

As well as the hotel plans, Cochrane will look at opening more Psyche stores. “I’d like to open more, but first I’d like to get this place firing on all cylinders,” he said.The hotel is scheduled to open at the end of 2009.

Psyche launched in a 350sq ft outlet in Middlesbrough in 1982, and has now grown to 35,000sq ft after the acquisition of Uptons department store in 2002.

Cochrane said the industry had changed beyond recognition since he started out. “It is a lot more cut-throat now than it was 25 years ago,” he said.

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