Motel One project sold to LaSalle

LaSalle Investment Management has acquired the pre-let Motel One hotel development in London Road, Manchester for £25.5m from Livia part of the Olympian Group.

The Hodder-designed hotel will comprise 330 rooms across 13 floors. Germany-based operator Motel One agreed a 25-year lease on the completed development.

The development, facing Piccadilly station, is due for completion in April 2015.

LaSalle Investment Management was advised by Jones Lang LaSalle.

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