Cains’ top tiered commercial property team are pleased to have advised popular UK hotel brand Travelodge, on its agreement for lease to open its first hotel in the Isle of Man.
Travelodge has agreed a 30-year lease term with Tevir Group and planning permission has been granted to develop a standalone, new-build, 80-room Travelodge, along with an on-site restaurant, 85 Bar Cafe, as part of a mixed-use scheme that will also include two, new, grade-A office buildings.
The site’s location will form part of the new Villiers Square development and construction is expected to begin in early 2025, with handover of the hotel expected in 2026.
Cains’ property expert Alex Poole-Wilson advised Travelodge on the transaction working with Travelodge’s English panel solicitors Addleshaw Goddard LLP.
Alex Poole-Wilson said: “We are delighted to have acted on this matter, supporting Travelodge and Whitestone Retail & Leisure to secure the deal. It is pleasing to see such a well-respected hotel operator come to the Isle of Man and this will play a key part in a dynamic mixed-use development in the heart of Douglas.”
