First offer deadline for six Travelodge properties up for sale
The six Travelodge properties which were put on the market at the start of October, representing over 700 rooms, have been given a first offer deadline by property agents Christie & Co.
The sale portfolio on the market includes properties in Edinburgh, Newcastle, Manchester, Coventry, Stevenage and Bath and has a combined value of around £30m. The sale is a result of the company entering into a Company Voluntary Agreement which set out a plan to dispose of 49 properties within the Travelodge stable.
Properties are up for sale on an individual basis with a view to selling with vacant possession. A deadline has been set for first offers.
Jeremy Jones, director of corporate hotels for Christie + Co, said: "We have received a significant amount of interest in all six of the hotels since we brought them to the market in early October."
Travelodge to offload six hotels >>
Travelodge to shed 49 hotels and reduce rent on 109 more as it enters CVA >>
By Emily Manson
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