Owners put £11m price tag on Travelodge hotel by Blackpool FC stadium

The Travelodge on Seasiders Way in Blackpool has been put up for sale.
The Travelodge on Seasiders Way in Blackpool has been put up for sale.
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The Travelodge hotel by Blackpool FC's Bloomfield Road stadium has gone on the market with an asking price of £11m.

The 124-bedroom property, leased to Travelodge on a 25-year deal in 2009, is being marketed by Blackpool-based Kenricks Commercial estate agents.

It follows the auction of another property linked to Blackpool FC's owners, the Oyston family, when Oyston Mill, in Preston, failed to sell after being listed with a starting price of £2.9m last month.

The Oystons were last month ordered to pay £31.27m to the club's estranged president Valeri Belokon by a High Court judge.

The Travelodge listing says: "This substantial detached property which was purpose built and completed in 2009 is situated adjacent to Blackpool Football Club, fronting Seasiders Way being one of the major routes into the town centre from the south and the M55 motorway.

"The hotel is leased to Travel Lodge Hotels Ltd for a term of 25 years from April 2009 at an annual rent of £531,461.02 per annum.

"We are informed there is a rent review due in April 2018 where the expected increased rent will be in excess of £600,000 per annum."

A deal that saw Segesta Ltd, now Blackpool Football Club (Properties) Ltd, purchase the hotel for £6.5m in 2011 was scrutinised in the High Court hearing that saw Owen and Karl Oyston as well as Blackpool Football Club (Properties) Ltd - a firm with links to the family - ordered to buy out Mr Belokon's shares in the club.

Mr Justice Marcus Smith said payments from Blackpool FC to Segesta linked to the purchase of the hotel 'unfairly prejudiced' Mr Belokon's firm, VB Football Assets, and other shareholders, to the benefit of the Oystons.