One of the UK’s leading developers, Kier Property, has started work on its 3.65 acre Kier Park scheme on Maylands Avenue, Hemel Hempstead.
Represented by commercial property consultancies, Lambert Smith Hampton (LSH) and Wright & Partners, Kier has secured hotel operator, Travelodge, as the first occupier at the site and building work is now underway with completion expected in July 2012.
Travelodge has signed a new lease for a 108 bedroom hotel. An adjoining 4,000 sq ft retail unit has also been let to Mitchells & Butler, trading as Toby Carvery.
Jonathan Lee of Kier Property commented: “The pre-lets signed at our Maylands Avenue scheme are a real vote of confidence for Hemel Hempstead.”
Claire Madden, Director in LSH’s St Albans office, added: “Works starting on site will bring much needed redevelopment and amenity to the area. The whole project demonstrates improved commercial sentiment to other developers and occupiers active in Hemel Hempstead’s property market.”
The remainder of the site is available for mixed use development, and a further 2,495 sq ft retail unit is available on a leasehold basis on terms to be agreed.