Travelodge is set to turn an empty office building in Stratford, E15, into a 151-room budget hotel after agreeing a deal with site owner Unex Group.
The chain has exchanged contracts on a 25-year lease at Gredley House with Unex, which has invested in the area for more than 50 years.
The site already has planning permission for the hotel. It is targeting a BREEAM Excellent rating.
Works on the site will begin in May ahead of a launch next year. It will become the group’s 85th hotel in London, as well as Travelodge’s closest hotel to Stratford station.
Barnes Construction is the appointed contractor. It also worked on Travelodge’s Wimbledon Central offering, and is on site building its Chiswick hotel.
Tony O’Brien, UK development director at Travelodge, said: “The site is in a prime location, just moments away from Stratford station and Westfield Stratford City shopping centre, and will attract new visitors to the area.
“We have great experience of converting existing office space into Travelodge hotels and are looking forward to working with Unex to bring this former office building back to life.
“This type of development is a win-win solution for all parties, as it converts redundant space back into economic use, which is a highly sustainable way of developing, delivers significant inward investment and creates new jobs.”
Adrian Morris, managing director of Unex Group, said: “The building’s design is a perfect fit for conversion to a hotel and we look forward to redeveloping this building for its new use for the next 25 years or more.
“There is a significant amount of captured carbon within the building’s structure, so redeveloping and retaining the existing structure rather than demolishing seemed the most environmentally friendly way to proceed on this project.”
Chris Collins, agency director at Strettons, which advised Travelodge on the deal, said the firm continues “to assist Travelodge with its significant growth plans in London”, adding: “A particular focus at the moment is the conversion of town centre offices and residential development sites that can be adapted.”
Strettons acted for Travelodge to identify the opportunity and agree terms with Unex, while Freeths advised on legal matters.
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