Description

Glasgow is the largest city in Scotland with a population of 650,000 people, increasing to 1.85 million people within the Greater Glasgow conurbation.
Glasgow’s growing tourism sector delivered 4.72 million overnight visitors in 2024 – more than 20% above the previous year.
The Glasgow hotel market delivers exceptional value, driven by robust growth in demand and sustained rate integrity.
Located 15 minutes’ drive from Glasgow city centre and 8 minutes’ drive from Glasgow Airport, providing access to over 100 global destinations.
Situated adjacent to Braehead Shopping Centre, Scotland’s largest leisure and retail destination with 120+ brands and 16.5 million in annual footfall.
Purpose built 99-bedroom hotel with a large ground-floor reception and café.
Significant site extending to 1.09 acres, with 101 dedicated car parking spaces.
Heritable Interest (Scottish equivalent of English freehold).

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Caractéristiques de l'actif

Prix attendu

9 318 000 €

Revenu net

696 000 €

Taux de capitalisation

7 %

Lits

Durée restante du bail

19 ans

Fully let to Travelodge Hotels Ltd until 17th August 2033, subject to a landlord’s option to extend until 17th August 2045 (19 years term certain).
Secured on a fully repairing and insuring (FRI) lease at a current passing rent of £596,767 per annum.
Five-yearly uncapped RPI-linked rent reviews, with the next review in August 2028 predicted to achieve £700,105 per annum (assuming OBR RPI projections).
Offers are sought in the region of £8,000,000 (Eight Million Pounds Sterling), subject to contract and exclusive of VAT.
Assuming standard purchaser’s costs, a purchase at this level would produce a net initial yield of 7.00% and a reversionary yield of 8.21% in August 2028 (assuming OBR RPI projections).