EasyHotel signs lease on Cambridge property

EasyHotel signs lease on Cambridge property

Cambridge is the latest location to gain a “super budget” easyHotel.

The company has signed a 25-year lease on a site in the city to develop a purpose-built property, subject to planning permission.

The 100-room hotel is expected to open in 2019 less than a mile from the city centre.

Cambridge will be the group’s third leased site. The hotel will be let on a 25-year FRI (fully repairing and insuring) lease at an annual rent of around £625,000.

The hotel will be developed by MP Merchant, in line with easyHotel’s specifications.

The chain’s chief executive Guy Parsons said: “Having recently completed a successful fundraising to fund the acceleration of our owned hotel portfolio, this announcement is a clear signal of our intent and ambition to expand our development pipeline, targeting popular business and leisure city centre locations.

“The Cambridge site takes easyHotel’s pipeline of owned/leased development projects to 1,041 rooms, adding one of the UK’s most thriving and popular cities to our network.

“The board looks forward to announcing further opportunities in due course.”

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