Whitbread has added 308 bedrooms to its London Premier Inn portfolio with the completion of deals on development sites at Wood Green and Canning Town.
Whitbread will invest approximately £31.9m in the two sites. It has an overall UK and Ireland growth milestone target of 85,000 bedrooms by 2020 (from approximately 67,000 bedrooms today).
At Wood Green, Premier Inn has completed a leasehold deal with property investment firm Lazari Investments for a 148-bedroom hotel within the mixed-use redevelopment of the former High Road BHS. The deal represents investment of £14.1m and is expected to create approximately 43 jobs.
At Canning Town, it has completed a leasehold deal with construction company Galliford Try for a new 160-bedroom hotel within a major mixed-use scheme, which would see the Premier Inn occupy three floors above ground floor retail and restaurant uses. The deal represents investment of £17.8m and is expected to create approximately 45 jobs.
Both deals are subject to planning and the estimated openings are targeted for third quarter of 2019 for Wood Green and summer 2020 for Canning Town.
Louise Woodruff, acquisition manager for Premier Inn in London, said: "This impressive deal double will see Premier Inn add two excellent new locations to our network and take another significant step forward in our London growth programme. We're expanding across the capital with an emphasis on city centre locations and also the important district centres within the outer boroughs."
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