Travelodge has acquired two office buildings in London’s Liverpool Street from the City of London Corporation.
The budget hotel brand has acquired a 155-year long leasehold interest in 6 Broad Street Place & 15-17 Eldon Street from the City of London Corporation.
Travelodge plans to commence a refurbishment of the vacant buildings situated opposite the station, converting the upper floors of both buildings into a hotel which will feature a café bar and reinstating the pre-existing retail uses on the ground floor of 6 Broad Street Place.
The City Corporation was advised by Capital Real Estate Partners, while Travelodge was represented by Strettons.
What they said
Jo Boydell, CEO of Travelodge said: “The acquisition of 6 Broad Street Place and 15-17 Eldon Street marks another significant step in our UK development strategy as we continue to grow and optimise our hotel network. Office-to-hotel conversion is a sustainable way of developing, allowing us to meet the increasing demand for budget hotels while reducing the carbon impact that new development brings. We are also excited to expand our portfolio in London, where we currently operate over 80 hotels, with a further five developments underway.”