Acting for Torrin Asset Management and Milton Keynes Parks Trust, we have negotiated the purchase of a 115-bedroom budget hotel in Loughborough. The scheme was acquired, by way of a funding agreement, from the developer Saxondale Properties Ltd, for £6.5m.
Located adjacent to the offices of Charnwood Borough Council and opposite the Beehive Lane car park, the scheme is just two minutes away from Market Place, Loughborough’s prime retail pitch. Construction of the hotel, pre-let to Premier Inn Hotels Limited for a term of 15 years, is nearing completion and will open its doors to paying customers in late 2011.