We acted for ICVC, a fund managed by BMO Real Estate, on a forward
commitment on a Travelodge hotel and Starbucks drive-thru development in
Bury St Edmunds for £9.5m. The 80-bedroom hotel, was let to Travelodge on a
25-year lease and the site also includes a 1,800 sq ft drive-thru Starbucks.
Following the pandemic and Travelodge’s CVA, BMO took back the Travelodge
lease and the hotel was converted into a Premier Inn on a 30 year lease.