Henderson Global Investors, together with developer Berwick Hill Properties, has secured planning consent for a new 108-bed Travelodge hotel in Woking town center.
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The development is due to be completed in late 2012.
The development at White Rose Court on Oriental Road, will involve the conversion and part new build of an existing 1980s office building totaling 25,000 ft² (approx. 2,3000 m²) once complete. Berwick Hill will undertake the development which is scheduled to complete in late 2012.
Cameron Fraser, Fund Manager at Henderson Global Investors said: "The development will be an exciting addition to our portfolio which fits well with our current investment strategy. Woking has increasingly become a highly desirable location due to its excellent connections with London.
"We are delighted to have secured Travelodge on a new 25-year lease, which provides us with optimum covenant strength and are excited to be working in partnership with Berwick Hill Properties who have the local expertise to complement the project."
Henderson is acting on behalf of a private client. Henderson and Berwick Hill were advised by Savills and Lambert Smith Hampton.
Source: Henderson Global Investors
Cameron Fraser, Fund Manager at Henderson Global Investors said: "The development will be an exciting addition to our portfolio which fits well with our current investment strategy. Woking has increasingly become a highly desirable location due to its excellent connections with London.
"We are delighted to have secured Travelodge on a new 25-year lease, which provides us with optimum covenant strength and are excited to be working in partnership with Berwick Hill Properties who have the local expertise to complement the project."
Henderson is acting on behalf of a private client. Henderson and Berwick Hill were advised by Savills and Lambert Smith Hampton.
Source: Henderson Global Investors
