The latest step towards completing Wycombe District Council's Handy Cross Hub (HxH) development is the sale of the designated hotel site to Legacy Hotels & Resorts in partnership with global hotel investors, Frank Truman Asset Management.
The hotel developer and landowner WDC have just exchanged contracts.
Legacy Hotels & Resorts is one of the UK's largest privately owned hotel owners, developers and management companies with a portfolio of branded and unbranded hotels across the UK and southern Spain.
Cllr Steve Broadbent, Cabinet Member for Economic Development and Regeneration, said, 'We are delighted to welcome Legacy Hotels & Resorts to High Wycombe and look forward to seeing development progress.
'The hotel site was marketed via commercial agents Savills and resulted in a number of strong competing bids from hotel investors and developers.'
Andy Townsend, founding director and CEO for Legacy Hotels & Resorts, said, 'I am delighted that we have secured this project as I have been tracking it for some years and it is now nice to be able to commence bringing our ambitions to life for the site.
'Having lived locally in Marlow for nearly 20 years I feel we have a good handle on the local market and opportunities - what we have planned is an ideal fit for the hub, immediate local area and wider region of South Buckinghamshire. We currently have six new build hotel projects under way in the UK so one close to home is a nice addition.'
A 150-bed internationally branded hotel is planned for the site to the west of the Waitrose car park and with easy access to the M40 motorway. The project is an integral part of the council's consented masterplan for the Hub.
Work also continues at HXH on Hungry Caterpillar's new day nursery and the Little Gym's separate first floor mini-gymnasium space for pre-school children, which are expected to be open for business in the new year.