Travelodge eyes flotation
The owners of budget hotel brand Travelodge have appointed Deutsche Bank to advise on a potential £1bn sale or stock market flotation. Goldman Sachs, Avenue Capital and GoldenTree Asset Management took control of the brand in 2012. Travelodge operates 500 hotels and expects to open a further 150 in the UK over the next eight years.
Brum HS2 plan set for approval
The Birmingham Curzon HS2 masterplan is set to be adopted by the city council at
a cabinet meeting on 27 July. The masterplan includes 8.2m sq ft of commercial space and 4,000 homes across a 348-acre site. A public consultation on the plans was launched in 2014.
Record volume for West End
West End investment transactions hit a record £3.9bn in the first half of 2015, according to Savills, a 22% increase on the previous first-half best of £3.2bn in 2014. In June alone £899m was transacted in 18 deals, the largest of which was Frogmore’s purchase of the 3.1-acre Notting Hill Gate Estate from Pears Group and LaSalle Investment Management for £219m.
TH’s Darkins to retire
TH Real Estate chief executive James Darkins is to retire at the end of the year. Darkins has been with the firm for 17 years, joining its predecessor AMP in 1998 and heading the formation of TH Real Estate in 2014. He will be replaced by European managing director Mike Sales.
Venn makes Bright move
Venn Partners has hired former Crown Estate chief executive Roger Bright as chairman of Venn subsidiary PRS Operations. Prior to joining the Crown Estate, Bright was head of the investment business department at the Financial Services Authority.
