Premier Inn - Edinburgh Airport, Eastfield Road_Property for Sale

Eastfield Road, Ingliston, City of Edinburgh, EH3 8BP, UK

Premier Inn - Edinburgh Airport, Eastfield Road

Description

Prime Forward Funding Hotel Development Opportunity

The proposed scheme will be a ground up development, delivering a 5-storey 218-bedroom hotel on a site which spans 1.09 hectares. The proposed hotel with licensed restaurant and bar has been recommended for approval, subject to conditions and legal agreement.

The scheme is to be let on the terms within the agreement for lease which consists a 30-year FRI lease from the completion date, to Premier Inn Hotels Ltd and with the added benefit of a guarantee by Whitbread Group PLC, a FTSE 100 company.

Once completed, the development aims to provide a BREEAM rating of ‘Excellent’ and is currently in RIBA Stage 2 Design phase.

^{(Please note that hotel images are CGI for indicative purposes)}

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Attributes

WAULT

30 years

Keys

218

Tenant credit rating

BBB

BREEAM

Excellent

Tenants

Premier Inn Hotels Limited (guaranteed by Whitbread Group PLC)

Media

Investment Highlights

Prime hotel forward funding opportunity on the doorstep of Edinburgh Airport, which has recently benefitted from extensive improvement works costing over £150m and in 2024 received record visitor numbers of over 15.7 million people.
The hotel is to be fully let and operated by Premier Inn Hotels Limited, guaranteed by the investment grade covenant, Whitbread PLC.
Whitbread is the UK’s largest hospitality business, a long-term member of the FTSE100 and employer of over 38,000 people.
The lease will be for a term of 30-years, commencing on the date of Practical Completion.
The property is subject to a signed AFL on Full Repairing and Insuring terms, which will generate an annual rental income of £1,760,350 per annum which reflects £8,075 per bed.
The proposed rent will be subject to 5-yearly CPI index-linked rent reviews, subject to a collar and cap of 0%-4%.