Travelodge, Central Park, Western Approach, Bristol
Price: £8,500,000 - Initial Yield:5.03%
Date: Q4 2019
Acting on behalf of South Gloucestershire District Council we advised on the acquisition of this hotel development from Barwood Capital for £8.5m, reflecting a net initial yield of 5.03%.
The development will comprise a 5 storey 81 bed hotel, together with a bar, café and 81 parking spaces. Upon completion Travelodge Hotels will enter into a new 25 year FRI lease at an initial rent of £436,104 p.a.
