Loughton Travelodge

LEXI arranged a £10.4m development finance facility, which was structured up to 70% loan-to-GDV and brings forward a new 100-bedroom hotel pre-let to Travelodge.

The client is a major contractor and developer which gave the lender the conviction to push the leverage whilst maintaining a margin of 450bps. It is anticipated the hotel will be sold during the course of the development given the 30-year Travelodge lease.