New plans for the Robin Hood Hotel
The derelict former Robin Hood Hotel in Newark is being transformed into a new Travelodge hotel.
A total investment of £6.6million will ensure the historic building façade, which fronts Lombard Street, will remain with the Travelodge hotel chain taking the lease for the 66-bedroom hotel which is expected to be completed for the summer of 2021.
The development will be a major boost for jobs, the local economy, visitor numbers to the district, town centre footfall and help redress the shortage of hotel accommodation in the Newark area.
There will also be three leisure units, possibly a gym, café and restaurant, built on the site which will complement the hotel.
The new hotel will generate up to 70 new jobs and further enhance Newark and Sherwood as a significant tourism designation in its own right, particularly in relation to Sherwood Forest, Newark Castle and the National Civil War Centre.
The three commercial units will also increase the employment and commercial offer of the town and the construction phase will provide a boost for the local economy. Twenty-four hour car parking will be provided nearby for hotel guests.
The council, in partnership with the current owner of the existing buildings MF Strawson Ltd, has set up a joint venture company, RHH Newark Ltd, specifically to ensure that the development is delivered.
Both parties will make a capital contribution of £3.3million each of which two-thirds will be returned to each on completion, when the Travelodge element of the development is sold onto investors.
Each will retain a share of the leisure units with each party having the option to buy, or sell, the long leasehold interest in the units. In each scenario for the council, it is projected to either receive a full return on its capital investment or receive a revenue return of six per cent in rental income.
A traffic management scheme will be implemented during the structural support works needed for the new hotel.
The changes to Lombard Street are likely to last for around 6 months commencing late summer 2019.
Traffic flow will be reduced from 2-lane to single lane on Lombard Street. Traffic flow will be maintained in both directions during the building works.
There will be some changes to pedestrian footpaths and crossings that will be clearly signposted.
Some temporary traffic lights may be required for a few days when traffic routes are being established
A road closure of Lombard Street is envisaged for 1 day in May/June 2020 to dismantle and remove from site the tower crane involved in the construction.
Businesses in the area will be open as usual during the construction works.