Granada Plc - Retail - Newcastle, City Road

Date: 16 Feb 2000

Granada Plc Unveils Plans For 120 Bedroom City Centre Travelodge In Newcastle

Granada plc has acquired a 0.8 acre site for £ 1.3 million in the centre of Newcastle for the city's first 120-bedroom city centre Travelodge, which will be constructed by Perth based Robertson Group to a turnkey finish.

Quoting rent for the A3 space is £145,000 per annum for a term of 25 years. Work has started on site and the lodge will be completed by September 2000, with availability to an A3 operator late summer 2000.

Located on the corner of City Road, Forster Street and Pandon Bank on the Quayside, the site is in the heart of Newcastle's popular regeneration area, adjacent to the new Crown Courts and within close proximity of Newcastle's planned new Millennium Bridge.

Granada's John Bates commented: "Granada's overall acquisition targets mean that we are looking for more and more sites for Travelodge, and more of these will be city centre / urban fringe lodges. Quayside in Newcastle is an exciting regeneration project that has 400.000 sq ft of leisure, restaurants and bars. A quality branded hotel such as Travelodge will compliment that leisure offer."

Newcastle based architects Alan Williams & Partners has designed the lodge. Joint marketing agents for the A3 space are Newcastle based Smith Cole Wright and national surveying firm Conrad Ritblat.

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