New £7.5m hotel opens its doors

A three-storey, 80-bedroom Travelodge has opened at Monks Cross Drive, opposite the Alpha Office Park in York.

Development at the £7.5m hotel began in March this year. Monks Cross is Travelodge’s 12th North Yorkshire launch and it’s predicted that more than 38,000 guests will stay at the hotel annually. Planning documents estimate that each guest will spend up to £20 in York during their stay, totalling a potential £766,500 contribution to the city’s economy.

Developer Max Reeves from Monks Cross based Helmsley Group, said: “Travelodge signifies a positive investment into York from a nationally recognised brand. Our offices are just next door, so we’re looking forward to seeing the hotel thrive and welcome its first guests this festive season.”

Helmsley Group created the Travelodge opportunity on behalf of its syndicated property clients Monks Cross LLP. The developer obtained forward funding for the hotel scheme and subsequent onward sale to a Jersey-based property investor.

Langleys Solicitors provided legal advice to Helmsley Group and Monks Cross LLP on the development.

James Bradley, senior associate at Langley, said: “Over recent months development at Monks Cross has gathered pace helping to further establish itself as a focal point for retail, business and leisure. The development of the Travelodge has proved to be an excellent investment for our client which will make a significant contribution to the local economy.”