Strettons Secures Prime City of London Site for Travelodge

Strettons has successfully acquired a landmark City of London property on behalf of its long-term client Travelodge the UK’s first budget hotel brand, marking the latest in a series of acquisitions for the UK’s first budget hotel brand.

The prominent site at 6 Broad Street Place and 15-17 Eldon Street, located opposite Broadgate,  Liverpool Street Station and the Elizabeth Line entrance, has been acquired on a 155-year long leasehold from the City of London Corporation. The combined 58,893 sq ft net internal area of the two adjoining buildings will be transformed into a new Travelodge hotel with an 85 Bar Café, subject to planning approval.

Strettons has worked with Travelodge since 2007 and has advised the company on a wide range of new sites throughout East and North London. The City of London acquisition is the second project that they have recently secured that will transform a former office building. It follows planning permission being granted for Stratford Travelodge in 2024 which will see a vacant office building (Gredley House, 1-11 Broadway) converted into a 151-room Travelodge.  

The deal aligns with Travelodge’s UK development strategy of sustainably expanding its network of hotels by converting existing, vacant office and retail buildings into new hotels. By repurposing redundant spaces, Travelodge aims to bring them back into active economic use, benefiting the local community and meeting the growing demand for budget accommodation.

As part of the scheme, ground and lower ground floor retail and leisure premises will be reinstated on Broad Street Place, bringing commercial occupiers to the street-level frontage which will complement the hospitality offering above.

Chris Collins, Director of Commercial Agency at Strettons, commented:
“We are delighted to have secured this prime site for Travelodge in the heart of the City directly opposite the UK’s busiest train station. The demand from building owners across the City and City Fringe for high-quality, sustainable occupiers is strong, and Travelodge offers long-term value and strong footfall.”

Jo Boydell, CEO of Travelodge, added: “The acquisition of 6 Broad Street Place and 15-17 Eldon Street marks another significant step in our UK development strategy as we continue to grow and optimise our hotel network. Office-to-hotel conversion is a sustainable way of developing, allowing us to meet the increasing demand for budget hotels while reducing the carbon impact that new development brings. We are also excited to expand our portfolio in London, where we currently operate over 80 hotels, with a further five developments underway.”

The site benefits from exceptional connectivity, sitting just moments from Liverpool Street Station and surrounded by leading global employers, restaurants, gyms and amenities in the Broadgate, Spitalfields and Shoreditch districts.

The City of London Corporation was advised by Capital Real Estate Partners, while Strettons acted on behalf of Travelodge.