Travelodge, TWICKENHAM - PM+_Property for Sale

Regal House 70 London Road, Twickenham, TW1 3QS, UK

Travelodge, TWICKENHAM - PM+

Asset description

Strategically situated in the centre of Twickenham on a prominent site of London Road and immediately adjacent Twickenham Station, the asset is underpinned by robust real estate fundamentals and budget hotel short-stay accommodation demand generators.

Built in 2011, the hotel offering includes 111 en-suite guestrooms and an onsite restaurant and bar accessed off London Road. The property is formed in sections with a lower six-storey section to the rear and other parts extending up to 10 stories.

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Attributes

Building area Gross

3,601 sm

Occupancy

100.00%

Year built

1990

Number of units

111 units

Property Reference Number

10070710795

NOI

¥138,313,000

Media

Investment highlights

Benefiting from a Landlord-only extension option, the hotel is let to Travelodge Hotels Limited, the second largest hotel brand in the UK, with an unexpired term certain of 28.9 years (inclusive of extension option).

Travelodge’s rent is subject to five-yearly upwards only uncapped rent reviews and indexed to the Retail Prices Index excluding Mortgage Interest Payments (RPIX).

The passing rent is £792,984 per annum, reflecting a sustainable rent per key of £7,144.