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For Sale£7,000,000.00

Travelodge, Glasgow, PA4 8ZL

Hotels, Licensed & Leisure
Property type: Hotels, Licensed & Leisure
Tenure: For Sale Freehold
Price: £7,000,000.00
Location: Travelodge, 150, Kings Inch Road, Braehead, Glasgow, PA4 8ZL

Secure Long Term Hotel Investment in Glasgow

  • „Glasgow is the largest city in Scotland and one of the UK’s major retailing and conference/ events destinations.
  • Glasgow has a broad, sustainable demand base for hotels, with a healthy mix of business and leisure demand. „
  • 99-bedroom hotel built for Travelodge in August 2008, with a large reception, café and 101 secure parking spaces.
  • Let to Travelodge Hotels Ltd (D&B 5A1) for a remaining term of 21.2 years (inclusive of landlord’s option to extend).
  • Upward only rent reviews every 5 years linked to uncapped RPI, the next in August 2018. „
  • Current passing rent of £395,889 per annum, which is forecast to rise to £449,494 per annum in August this year*.
  • The current passing rent reflects a room rate of £3,999 and forecast to rise to £4,540 in August 2018. „
  • Heritable interest (Scottish Equivalent of English Freehold).
  • We are seeking offers in excess of £7,000,000 (Seven Million Pounds Sterling), exclusive of VAT, for our client’s heritable interest in the property. This reflects a net initial yield of 5.33%, rising to 6.05% in August 2018, allowing for purchaser’s costs of 6.16%.

    * Forecast rent rise based on RPI index to date, with RPI currently running at 4.1% pa.

    Associated Sales: The property is available to purchase in isolation or as part of a three property portfolio including Premier Inn, Huntly Street and Travelodge, Justice Mill Lane, Aberdeen.

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