Travelodge, the UK’s first budget hotel brand, which operates over 600 hotels across the UK, Ireland and Spain, has exchanged contracts to develop a new 131-bedroom hotel in Watford. This latest addition will be the group’s second hotel in the town and forms part of Watford Riverwell, a major, £500 million regeneration scheme (set up in 2013) being delivered through a joint venture between Kier Property and Watford Borough Council. The 70-acre development in West Watford is the largest regeneration project in the area, transforming former industrial land into a vibrant new district featuring residential, commercial, retail, leisure and healthcare facilities. Travelodge will play a key role in delivering new infrastructure to support the town’s future growth, while also boosting local employment and economic activity. The hotel chain has entered a 30-year lease with Kier Property to operate the hotel once it is developed.
The group’s second hotel in Watford is in a prime location for both business and leisure travellers, located very close to Watford General Hospital and Vicarage Road Stadium, home of Watford Football Club and a host venue for a variety of events. Other nearby attractions include the Warner Bros. Harry Potter Studios and Wembley Stadium, just a short train journey away. The hotel benefits from excellent transport connections, thanks to a new link road, and is under a ten-minute drive from Junction 5 of the M1. It is also within one mile of Watford’s High Street, Watford Junction, Bushey and Watford Met stations.
The new four-storey hotel will feature Travelodge’s new, premium look and feel design, which includes a freshly-designed reception area, next-generation rooms and its new, stylish restaurant concept, 85 Bar Cafe – offering everything a business or leisure guest needs for a comfortable and relaxing stay. At ground level, the building will also include two additional retail and leisure units and benefit from 78 dedicated parking spaces within a designated section of the adjacent, recently opened multi-storey car park.
Freeths advised Travelodge on the transaction and Kier Property was represented by Pinsent Mason.
Steve Bennett, Travelodge Chief Property and Development Officer, comments: “We are delighted to have exchanged contracts for our second hotel in Watford, and to be playing a part in one of the most ambitious regeneration schemes in the South East.
“Watford Riverwell is transforming the area, and this new hotel will support the town’s growing demand for quality, great value accommodation – particularly given its proximity to Vicarage Road Stadium, Watford General Hospital and local transport links. This is a fantastic, well-connected location and we look forward to opening our doors to both business and leisure travellers.
“We now have around 600 Travelodge hotels throughout the UK and are targeting even more new locations across the country. This will create even more jobs and give our business and leisure customers more choice and great value when visiting the UK.”
Leigh Thomas, Group managing director for Kier Property added: “We are delighted to be delivering another scheme with Travelodge, this time in the heart of our Watford Riverwell regeneration project. This deal further strengthens our successful partnership and reflects our shared commitment to providing high-quality, well-located accommodation that meets the needs of modern travellers.”
Elected Mayor of Watford, Peter Taylor: “I am delighted to hear that Travelodge will be opening a new hotel in Watford. This highlights the strong appeal of our town as an attractive destination for businesses and for visitors. The Riverwell regeneration project is part of our commitment to bring high-quality, sustainable development that delivers lasting benefits for our community. As part of this, I am proud that we have already delivered 85 affordable homes.”
