Travelodge is to open its first hotel in the London borough of Hackney after it exchanged contracts with LPC Living for its construction.
The budget hotel firm said it now had 56 hotels open in London, with another 13 sites under construction, and a further 48 targeted.
The 80-bedroom Hackney hotel will sit on the site of the former Gibbons furniture store site on Amhurst Road, adjacent to Hackney Central train station. It will open in the summer of 2014, creating 15 jobs.
The Travelodge hotel forms part of a broader £20m redevelopment by LPC Living which also includes 50 serviced apartments and two ground-floor retail units. Construction is scheduled to start this spring with Anglo Holt appointed as contractors.
Strettons acted on behalf of Travelodge, with Kingsbury acting on behalf of LPC Living. This will be LPC Living's second Travelodge development, with the company having previously built Travelodge's Salford Quays hotel in Greater Manchester.
Neil Short, development manager for Travelodge in north London, said: "The new hotel is in a fantastic location on Amhurst Road, next to Hackney Central station and part of an exciting, £20m mixed-use development by LPC. We will be delighted to open what will be the first branded hotel in the heart of Hackney.
"While the Olympic Games have brought a lot of attention to east London, the long-term business fundamentals for a hotel in Hackney are clear. Considerable recent investment in public transport, a burgeoning business and cultural environment and a lack of good-quality, affordable hotel rooms mean Hackney is a great location for a Travelodge."
Tony O'Brien, UK development director for Travelodge Hotels, said: "London has an undersupply of good-quality, affordable hotel rooms in Zones 1 and 2, and a shortage of any type of hotel in the suburbs.
"Trading has been superb for us in London throughout the recession, with hotels reaching mature occupancy levels within weeks of opening.
"Our London target list has a further 48 locations in the capital and we will be making further announcements soon about some exciting exchanges."
By Neil Gerrard
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