Metro Bank, the entrepreneur’s bank, has provided a £7.75m development loan facility to M&P Developments Limited for the construction of a 102-room Travelodge hotel in Harrow town centre. The new hotel is due to open in December 2017, with construction already underway.
Mahash Patel, M&P Developments said: “We are delighted to work with both Metro Bank and Travelodge on this exciting development, providing a much needed hotel accommodation in Harrow town centre and supporting the re-generation in this part of town. M&P Developments is committed to sustainable developments and is proud to be associated with the exciting scheme.”
Paul Harvey, Managing Director International & Development at Travelodge said: “As the capital’s largest hotel brand, we have built a strong portfolio of Travelodges in central London. Our focus now is to expand into the capital’s emerging boroughs, where demand is high for branded high quality and good value accommodation. We are delighted to work with Metro Bank to open our first hotel in Harrow. It’s been an easy process and we look forward to working with them on other developments in the future.”
Andy Hallett, Head of Commercial Property at Metro Bank said: “We’re really pleased to have been able to support M&P Developments with this latest development loan facility. M&P was a natural fit for Metro Bank, and we look forward to supporting more companies across the sector realise their ambitions.”
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