More problems at Gloucester Quays

TIME and time again it is being shown that the Gloucester Quays development was a bad decision, with now the Travelodge facing closure.

This was of course the development where British Waterways was a partner, but wrote off its entire investment of £33 millions, and withdrew from the partnership.

In debt

It has since had more problems, but now the £3.8 millions hotel in the centre of the scheme is deeply in debt, and likely on the verge of closure, Alan Tilbury reveals.

The development that was to revitalise the docks at Gloucester has proven a white elephant, but it is seen by many as being in the wrong place, way out of the town centre and difficult to access.

Reduce rent

We are told that the hotel needs to reduce its rent at an estimated 75 per cent for three years, but if agreement cannot be reached it will be given notice to quit the premises.

It is understood that many of the remaining outlets are having to renegotiate their rents owing to the lack of trade.