Description of 10-11 Grafton Place
10-11 Grafton Place is a hotel building in London NW1.
2018 September - LaSalle acquires Travelodge hotel adjacent to Euston station - a 150-room budget hotel located at Grafton Place in central London. The freehold asset was acquired from a syndicate of private investors for £40 million. LaSalle were represented by John Miles & Company and Gerald Eve. The hotel provides 150 bedrooms across a gross internal area of over 40,000 square feet. It is understood to be one of the best performing hotels within the Travelodge portfolio. Located in an area due to undergo major redevelopment, the property ranks highly on LaSalle’s proprietary analysis of an asset’s long-term resilience to changes in demographics, technology, urbanisation and the environment. The hotel is single-let to Travelodge Hotels Ltd until 2043 with rent linked to inflation, is situated next to London Euston, one of the UK’s main transport hubs and the site of London’s forthcoming “HS2” high-speed rail connection to the West Midlands as well as a potential future site for Crossrail 2. The area around Euston station and the nearby King’s Cross station is undergoing one of the largest urban regeneration projects in Europe.