Premier Inn - Aberdeen Airport _Property for Sale
Premier Inn - Aberdeen Airport _Property for Sale
Argyll Way, Aberdeen, Aberdeenshire, AB21 0BE, UK

Premier Inn - Aberdeen Airport

Asset Description

  • Long let hotel investment, situated adjacent to Aberdeen Airport.
  • Aberdeen is the third largest city in Scotland and is widely regarded as the 'Energy Capital of Europe'.
  • Purpose built 100 bed hotel with 60 car parking spaces.
  • The hotel consists of a variety of fully accessible en-suite bedrooms from twin rooms to family rooms, catering for a number of different guests.
  • In addition to accommodation the hotel also offers a sizeable bar/restaurant providing 60 covers and operating under the Whitbread 'Thyme Bar and Grill' Brand.
  • Excellent Tripadvisor© rating of 4.5 out of 5.
  • The site extends to approximately 0.55 acres.
  • The property is held on a sub-ground lease interest until 6th February 2180 with a passing rent of £1,000 per annum.



...

Attributes

Asking price
€7,023,000
WAULT
9.5 years
Year built
2013
Number of units
100 units
Land area gross
0.22 ha

Media

Investment Highlights


  • The property is let to Premier Inn Hotels Limited until 23rd July 2038, with a tenant only break option on 24th July 2033.
  • Net income of £578,926 per annum.
  • Annual CPI linked rent reviews, subject to a collar and cap of 0% and 5% respectively.
  • Parent company guarantee from the substantial covenant of Whitbread Group Plc.
  • Unexpired term of 14.5 years to expiry and 9.5 years to breaks.


  • Offers are invited in excess of £6,000,000 subject to contract and exclusive of VAT.


  • A purchase at this level would reflect a net initial yield of 9.05%.


  • An acquisition at the level above would reflect a projected minimum reversionary yield of 10.83% by 2033.



Premier Inn - Aberdeen Airport  4_Property for Sale
Premier Inn - Aberdeen Airport  4_Property for Sale

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Premier Inn - Aberdeen Airport (0 Properties)

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Last updated
11 Apr 2024