ST. MODWEN SIGNS TRAVELODGE AT EDMONTON GREEN

Date of issue: 14 October 2010 REF: STM0549

ST.MODWEN SIGNS 20,000 SQ FT TRAVELODGE AT EDMONTON GREEN

St. Modwen, owner of Edmonton Green Shopping Centre in North London, has announced that they have signed a deal with Travelodge for a 73 bed hotel on a 25 year lease.

The 20,000 sq ft Travelodge will be the first hotel for Edmonton Green, which has amenities including a leisure centre, library and primary care centre. This deal represents a £4.5m investment in Edmonton Green, contributing to the major ongoing regeneration of the Centre.

The hotel was granted planning permission by Enfield Council earlier this month and construction is expected to start at the beginning of 2011. The hotel is planned to open in Autumn 2011.

Footfall has been increasing at the shopping centre since St. Modwen purchased it in 1999, and now consistently exceeds 200,000 visitors per week. The hotel will create 25 local jobs in partnership with Job Centre Plus and Enfield Jobsnet, providing further opportunities for the long term unemployed in the local area to get back into work.

Edmonton Green is one of 17 town centre projects within St. Modwen's extensive UK regeneration portfolio which comprises over 5,600 acres of developable land and over £1 billion of assets.

-ENDS-

Notes to Editors:

Edmonton Green has evolved into a hub for the local community, incorporating social and leisure uses alongside retail and residential having been subject to a large-scale ongoing regeneration initiative by St. Modwen, who acquired the shopping centre from Enfield Council in 1999.

The site totals 10.7 hectares/26.6 acres and was originally constructed in the late 1960s. The centre currently comprises approximately 450,000 sq ft consisting of 120 retail units, 40 market stalls, leisure and community uses and offices.

In close partnership with Enfield Council, St. Modwen's £100m investment in the regeneration of Edmonton Green has added the following to the Centre and the area:

§ A new bus station

§ A new Primary Care Centre

§ A new Leisure Centre

§ A new Asda superstore alongside other highstreet names Agros, Dreams, Boots and Tesco.

§ 176 new residential apartments (100% affordable/key worker)

§ Refurbished multi storey car park which won "Refurbished Car Park of the Year 2008"

§ New purpose built shop mobility service

§ New public toilets in the market square

§ New security office and digital CCTV system

The next steps are intended be the refurbishment of the main shopping malls with future development planned for North Square.

St. Modwen Properties PLC

St. Modwen is the UK's leading regeneration specialist, operating across the full spectrum of the property industry through a network of six regional offices and a Birmingham-based head office. The company is wholly focused upon regeneration with expertise in brownfield land renewal, town centre regeneration, partnering with industry, Innovation Centres and education projects.

St. Modwen's Northern Home Counties (NHC) office is based in St. Albans, Hertfordshire. The team is responsible for the area from Northamptonshire down to North London and from Buckinghamshire, through Bedfordshire to East Anglia. Across this region, St. Modwen NHC manages a portfolio of nine schemes including three town centre regeneration schemes and over 850,000 sq ft of business and industrial parks. 

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