Freeths advises Travelodge on launch of new London hotel

National law firm Freeths has advised Travelodge, the UK’s first budget hotel chain on the exchange of a contract for a new 151-room hotel in Stratford, London.

Travelodge, which operates nearly 600 hotels across the UK, Ireland and Spain, has been granted planning permission to transform a vacant office building (Gredley House, 1-11 Broadway) into a 151-room Travelodge.

As its 85th hotel in London, and close to Stratford Station, the new Travelodge will be built to a BREEAM Excellent standard and will feature the group’s new premium design complete with a built-in café. A 25-year lease term has been agreed with the building’s owner, Unex Group, who has been a long-term investor in the area for over 50 years.

Leading on this deal is Freeths Real Estate Partner Liz Banks supported by Director Marie Mulligan, Managing Associate Tristan Milner, Senior Associate Emma Conwell, and Associate John Ridehalgh.

Liz Banks commented: “It was a pleasure to work with Travelodge, Unex and their lawyers, Eversheds Sutherland, to secure exchange of the new Travelodge Stratford site. As a long-standing client, this has been a really exciting project to work alongside and we’re looking forward to watching this come to fruition.”   

Alan Oliver, Travelodge's Development Manager for London added: "We're very pleased to have got this complex deal across the line, due in large part to Freeths' commercial approach and expertise across the board in acquisition, planning and construction. Travelodge is delighted to continue the expansion of our network of hotels throughout London and this new hotel in the thriving hub of Stratford will be a fantastic addition to our portfolio."