Pedersen Hotels plans third Bristol scheme

Pedersen Hotels is to build a £10m 140-bedroom hotel on a site at Temple Meads, Bristol, acquired from Castlemore Securities. The Ibis hotel will be leased to and managed by the French company Accor Business and Leisure Hotels. With funding provided by Julian Hodge Bank Commercial, the regional bank that specialises in commercial property, IBIS Temple Quay will open next May. The hotel will be Pedersen’s third in the city – it also owns the Novotel in Victoria Street and the Brigstow Mercure in Welsh Back, both leased to Accor. Funding for the latest scheme is being provided by Cardiff-based by Julian Hodge Bank, the property lender. neil.jones@btconnect.com