Somerset Travelodge sold to new owner for ?3.9m

A hotel in Taunton has been snapped up by a new owner. The Travelodge at Riverside Retail Park, Hankridge Farm, was recently sold to a fraternal order for £3.9m.

The property had been owned by RO Group, a property investment group, for nearly a decade. However, the prominent hotel has now been bought by The Independent Order of Oddfellows Manchester Unity Friendly Society, a fraternal group similar to the Freemasons.

The Travelodge is a purpose-built 64-bedroom hotel with a larger than typical room size. According to a statement from RO Group, “guest numbers at the hotel are not only driven by local business but also by increasing leisure demand around Taunton itself, and by West County bound travellers.”

Edward Rowlandson, group managing director at RO Group, said: “We have had tremendous success with our Travelodge asset in the town, which lies only around 40 miles from both Bristol and Exeter airports, and are delighted to pass the baton to the new owners.

“We believe that they will enjoy continued favourable returns from the property, which will continue to benefit in the long term from the nearby development of Hinkley Point, one of the UK’s major infrastructure investment commitments.”

References

1. ^{^} Furious campaigners say they were ‘ignored’ by First Bus boss as Bridgwater bus depot closes (www.somersetlive.co.uk)