Capstone has now sold the 4.5 acre site to Scottish and Newcastle Retail and construction will shortly begin on a new 130-bed Premier Lodge hotel. According to Jones Lang LaSalle, which negotiated the sale of the site to Scottish & Newcastle, the bidding process was highly competitive.
Tom Oakden, Vice President at Jones Lang LaSalle Hotels said: "We approached all the main players in the mid-market segment, and the majority of groups made strong offers for the site on account of its key strategic location and the ability for operators to tap in to both the Heathrow and Stockley Park market."
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