GMI DEVELOPMENTS COMPLETES TRAVELODGE SALE
News / 21 January 2014
Deal Marks Success of Huddersfield Regeneration Scheme
January, 2014 – GMI Developments has completed the sale of its 62 bedroom Travelodge hotel on Leeds Road in Huddersfield to CRT Property Investments Ltd for £2.55M.
The Travelodge was completed in 2011 as the final phase of GMI’s £10M Spindlegate regeneration scheme. In addition to the Travelodge, the Spindlegate scheme also includes; an employment site with around 40,000 sq ft of commercial space which is being proposed by Stead Commercial Estates Ltd, The Yorkshire Rose pub which was built for Marstons in 2010, a former church which has been sold to a charitable trust for office conversion and a drive-thru Costa Coffee which was purchased by CRT Property Investments Ltd early last year.
The former James Robinsons headquarter site was identified as prime for redevelopment by GMI due to its strategic location and capacity. The firm has a strong track record for identifying and maximising the potential of redundant sites and the Spindlegate scheme has received broad acclaim for its comprehensive transformation into a job-creating local hub.
Chris Gilman, Managing Director of GMI Developments, said; “We are delighted to have completed the sale of the Travelodge to CRT Property Investments Ltd following their earlier acquisition of the popular Costa drive-thru. The Spindlegate scheme has been continually supported by local stakeholders and also investors seeing the potential of the site’s offering and positioning. This scheme compliments the other regeneration schemes we have been involved in over the last few years in Huddersfield .”
GMI Developments is a Leeds-based commercial property development company specialising in bringing forward complex regeneration projects in partnership with both public and private sector organisations.
GMI’s sister firm, GMI Construction also recently delivered the 48,000sq ft headquarters for textile engineering firm Sellers Engineers at Trident Business Park also on Leeds Road and the £10m engineering centre for Kirklees College at Turnbridge Road.
DTZ represented the CRT Property Investments Ltd whilst Woolhouse Real Estate represented GMI Developments.