Other

Premier Inn, Great Park, Rubery, Birmingham 

 

Price: £5,847,000 - Initial Yield:5.50%

Date: Q2 2016

Acting on behalf of Aberdeen Asset Management we advised on the sale of this hotel to Colliers Capital for £5.847m reflecting a net initial yield of 5.50%.

The property occupies a prominent location on the Great Park with frontage to Park Way, the park’s main arterial road and consists of a 64 bedroom hotel and public house/restaurant of 10,859 sq ft (1,009 sq m) with 115 car parking spaces.
The property is let to Premier Inn Hotels Ltd (5A1) on a 35 year lease, expiring in January 2035 giving an unexpired term of 18.9 years and the current passing rent of £342,873 per annum, of which £202,873 per annum (£3,272 per room) is apportioned to the hotel and £140,000 per annum (£14.21 per sq ft) is apportioned to the public house & restaurant.

Contact

Jeff Ellis

Tel: 020 7493 3330
Mob: 07775 582 719
jellis@lewisellis.co.uk

John Ellison

Tel: 020 7493 3330
Mob: 07889 437 236
jellison@lewisellis.co.uk

James Elkington

Tel: 020 7493 3330
Mob: 07810722459
jelkington@lewisellis.co.uk


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