Commercial Property team advise on £7.5m Travelodge development in York

Dec 6th, 2018

James Bradley, Partner

A new £7.5m Travelodge hotel with a bar and restaurant has opened in York.

Monks Cross is the chain's 12th North Yorkshire hotel and is expected to host more than 38,000 guests every year. It could also generate about £766,500 for the city's economy.

Helmsley Group created the Travelodge on behalf of its syndicated property client Monks Cross LLP. The developer obtained forward funding for the hotel scheme and subsequent onward sale to a Jersey-based property investor.

Max Reeves, from Helmsley Group, said: "Travelodge signifies a positive investment into York from a nationally recognised brand. Our offices are just next door, so we're looking forward to seeing the hotel thrive and welcome its first guests this festive season."

Langleys Solicitors provided legal advice to Helmsley Group and Monks Cross LLP on the development.

James Bradley, senior associate at Langley, added: "Over recent months development at Monks Cross has gathered pace helping to further establish itself as a focal point for retail, business and leisure. The development of the Travelodge has proved to be an excellent investment for our client which will make a significant contribution to the local economy."

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