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National property and construction consultancy Wakemans has been appointed on Travelodge’s new £3.25m hotel in Farnborough, which is a key part of the long-awaited town centre regeneration scheme.
Wakemans is acting as tenant’s agent on the 77-room Travelodge, which is an important project for the UK’s fastest growing hotel chain, since it will be the first branded budget hotel to be built in the heart of Farnborough.
The hotel will occupy three-storeys, with retail space and restaurants on the ground floor, in a prime position fronting Victoria Road.
Farnborough’s £80m redevelopment scheme is designed to rejuvenate the town centre with a mix of private homes and affordable housing and a major new retail development comprising 30 units. It is also benefiting from a 55,000 sq ft Sainsbury’s supermarket, an eight-screen Vue cinema, a Gala bingo hall and improved car parking.
Developer Key Property Investments Ltd – a joint venture company between St. Modwen Properties PLC and Salhia Real Estate Company – started on site in May 2007 with the demolition of 100,000 sq ft of 1960s shops and flats, and the diversion of gas and water pipes, phone lines, main sewers and fibre optics and electricity lines.
“The developer and Rushmoor Borough Council have welcomed Travelodge’s decision to invest in Farnborough as part of its aggressive expansion programme, and the new hotel is very much an anchor development in the £80m town centre regeneration scheme,” says Wakemans associate director Nigel Himpson.
Construction of the new Travelodge started in June this year and the scheme is scheduled for completion in early 2009.
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