Moore Barlow leads multi million pound deal for new Travelodge

By Nicky Godding

1 August 2023

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Southeast law firm Moore Barlow has advised Cooper Estates Development on the multimillion-pound purchase of a hotel in Wellingborough, Northamptonshire as the property investment company looks to expand its hospitality portfolio.

As part of the deal Cooper Estates has also agreed a new lease for the site on the west side of Enstone Court with Travelodge. Taking over the lease from Ibis, the national hotel chain plans to reopen the venue ahead of the British leg of the Formula One grand prix in 2024, taking place at nearby Silverstone.

The deal to buy the hotel from K/S Wellingborough was led by Luc Algar, partner and head of real estate at Moore Barlow.

Luc said: “Cooper Estates have a strong track record of acquiring sites and making them work. This is another excellent selection and the immediate interest from a national hotel brand shows the potential it has to deliver growth.

“The hotel and leisure industry is a vital cog in the UK’s economic machine and ensuring it is backed by a robust M&A market is essential. Companies like Cooper Estates play an important role in ensuring sites towns like Wellingborough, where tourism is essential to the local economy, continue to prosper.”

David Gregory, investment director at Cooper Estates, said: “This had the potential to be a very complicated deal, with the end of one lease, the acquisition and the new lease with Travelodge all needing to happen in tandem. That it went so smoothly is testament to the team that worked on it, and means all parties are in the best possible position to move forward and ensure the hotel’s continued success.”

Luc Algar is based in Moore Barlow’s Southampton office, one of the six the firm has across the Southeast of England including Guildford, London and Richmond.

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By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.