We spotted a clear opportunity to create value, using our extensive network of contacts and market insight.

After running and managing the wider Discovery Park site in Kent, we carried out a review of adjoining unused land just off the A256 to sort best value potential within the asset.

We determined that a retail park and service area would be an astute fit and would add genuine amenity for residents, workers and travellers alike.

The Maritime team worked up interest with potential occupiers for what would become ‘Discovery Park Services’.

We first secured a filling station retailer, which would drive the most traffic on to the site. EuroGarages purchased land from us in the site’s prime position to develop a petrol station and Starbucks drive-thru.

This then enabled us to sell the next tranche of land to McDonald’s, who constructed a drive-thru restaurant on the site.

Through our own experience of hotel developments, we recognised that the site was perfect for a budget hotel operator.

Due to its proximity to Discovery Park there was a strong business case for accommodation, with thousands of workers on the site as well as leisure visitors to coastal attractions nearby.

Thanks to our strong connections with operators, a deal was agreed with Travelodge for a 25-year lease, which is subject to a fixed CPI review.

​Working closely with the council and utilising our in-depth knowledge of the planning system, an application was approved for a 75-bedroom hotel.

​Again, through the strength of our own relationships and understanding the strength of this type of product, a forward funding deal was agreed for a price of £6.7m.

Construction coincided with the COVID-19 pandemic, as well as a period of financial uncertainty for Travelodge, which meant that the process had to be closely managed throughout by the team.

Maritime’s razor-sharp ability to handle property projects of this complexity ensured a profitable conclusion to the overall scheme.

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