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Allsop completes sale of five Travelodge hotels for £8.99m
['Anandita Malhotra']
Property News for Commercial & Residential Sectors at Property Week
Allsop has completed the sale of five Travelodge hotel investments, achieving a combined total of £8.99m.
Sold through a combination of auction and private treaty processes, the hotels attracted strong interest from both private and institutional investors, the company said.
Allsop achieved sale prices of £3.66m for the Travelodge in Llanelli, south-west Wales; £1.65m in Macclesfield, Cheshire; £1.49m in Milton Keynes, Buckinghamshire; £1.2m in Barnsley, South Yorkshire; and £990,000 for the Travelodge at Cardiff Airport.
It is now marketing a sixth asset, Travelodge York Tadcaster in North Yorkshire, at a guide price of £4.75m.
Many occupy substantial sites with redevelopment or alternative use potential, offering investors the benefit of long-term income today alongside the opportunity for future value creation.”