A hotel in Huddersfield has changed hands in a £2.55m deal.
The 62-bedroom Travelodge at Leeds Road has been sold by GMI Developments to CRT Property Investments Ltd.
The hotel was completed in 2011 as the final phase of GMI’s £10m Spindlegate regeneration scheme. It created 13 jobs when it was officially opened in December that year.
Travelodge has a 25-year lease on the property and will continue to operate the site.
In addition to the Travelodge, the Spindlegate scheme also includes the Yorkshire Rose pub, which was built for brewer and pub operator Marstons in 2010, and a drive-through Costa Coffee, which was bought by CRT Property Investments Ltd early last year.
The site also has about 40,000sq ft of commercial space, which is being marketed by Lepton-based developer Stead Commercial Estates Ltd.
Spindlegate also includes the former St Andrew’s Church, which has been sold to a charitable trust for office accommodation.
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-through.
“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, based in Leeds, specialises in bringing forward complex regeneration projects in partnership with public and private sector organisations.
GMI’s sister firm, GMI Construction also built the 48,000sq ft headquarters for textile engineering firm Sellers Engineers at Trident Business Park on Leeds Road and the £10m engineering centre for Kirklees College at Turnbridge.
DTZ represented Barnsley-based CRT Property Investments Ltd while Woolhouse Real Estate represented GMI Developments.
