A Travelodge hotel and linked casino in the centre of Leicester have been sold for almost £9 million. Savills estate agents said a “family” buyer had bought the Travelodge Hotel & Grosvenor Casino in Highcross Street, for £8.75 million.
The site went up for sale through Savills last year when it had a guide price of £10.2 million. The hotel, which has 95 rooms across four floors, opened in 2004, and underwent a £325,000 refurbishment in 2014 as part of the companywide modernisation programme. The site, which backs on to Vaughan Way, also has 55 pay and display car parking spaces.
Travelodge is one of the UK's biggest budget hotel brands, with around 570 hotels – including another in the Leicester Haymarket shopping centre.
The casino is located across the ground, first and, second floors of the hotel with a gaming machine floor on the ground level and the main gaming floor upstairs. It has a number of bars and a 50 cover restaurant area.
The second floor includes a staff rest room, kitchen and preparatory areas, training rooms and a plant room. Grosvenor Casinos Limited, was established in 1966 and operates 53 casinos UK casinos.
Savills said it had sold the 63,000 sq ft hotel and casino on behalf of property investment company Tritax. According to Rightmove the site has a total annual rent of around £730,000.
Victor Ktori, head of commercial real estate at Savills Nottingham, said: “We are delighted to complete the sale of this prime Leicester city centre property which attracted robust demand driven by strong investment metrics.”
