Other

Travelodge Hotel, Streetsbrook Road, Solihull B91 1QY

 

Quoting Price: £10,100,000 - Initial Yield:5.25%

Acting on behalf of Caudwell Properties we are instructed to market this prime Travelodge hotel in Solihull town centre.

The property comprises an 82-bed Travelodge hotel with practical completion due early-mid November 2018. Pre-let to Travelodge Hotels Limited for an unbroken term of 35 years, with a tenants option to renew. Five yearly, upwards only, RPI linked rent reviews annually compounded (collar 1% and cap 4% per annum) at an initial rent of £565,850 per annum (£6,800 per bedroom).

We are instructed to seek offers for a forward commitment in excess of £10,100,000 (Ten Million, One Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 5.25%, assuming full purchasers costs of 6.70%.

Contact

Matthew Brown

Tel: 020 7493 3330
Mob: 07836 724 420
mbrown@lewisellis.co.uk

James Caddick

Tel: 020 7493 3330
Mob: 07771 882 860
jcaddick@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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