Jlp development consultancy
Astute site selection • meticulous due diligence • risk management • value engineering • efficient and transparent reporting • asset management
An expertise in the hotel sector, with particular attention on the budget to 3* sector.
With a strong track record and depth of knowledge in this sector, JLP Development Consultancy (JLP) is working closely with selected hotel operators to secure sites and buildings for hotel development and will either seek to deliver opportunities to the operator for an agency fee, or will acquire and develop opportunities to create an investment with developer / equity partners.
· JLP, in a Joint Venture, acquired the former Ben Line building at St Mary’s Street, Edinburgh in 1999; securing planning consent for change of use to hotel; and negotiating the 60 year lease to Travelodge for a 200 bed hotel. JLP sold its stake in the investment in early 2008 based upon a value of c. £8.5m – reflecting a yield of 5%.
· JLP also identified and introduced the Colmworth Park St. Neots site to Whitbread in 2001 for the development of a Travel Inn and restaurant.
· JLP, in a Joint Venture, acquired, funded, and developed the Route 66 Bury Travelodge, supported by a 25 year lease to the hotel operator. The investment, funded by the Royal Bank of Scotland though the development phase, was sold following completion in 2005.
Value Added Services
Site identification and assessment;
Property acquisition and negotiation;
Advice on any commercial space and rents and yields that may be achieved;
Commentary on yields currently applying to hotel developments in the given city, so that an informal view on valuation can be suggested;
Review of scheme drawings with guidance on amendments / cost in conjunction with relevant sub-consultants;
Completion of banking and construction due diligence;
Estate Management for remotely based clients.