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For Sale£9,500,000.00

Travelodge, Aberdeen, AB11 6AQ

Hotels, Licensed & Leisure
Property type: Hotels, Licensed & Leisure
Tenure: For Sale Freehold
Price: £9,500,000.00
Location: Travelodge, 21/23 Justice Mill Lane, Aberdeen, AB11 6AQ

Secure Long Term Hotel Investment in Aberdeen

  • „Aberdeen is a city known for its prowess in the energy industry and therefore has a truly international population.
  • Aberdeen enjoys a strong demand base for hotels from a mix of business and leisure customers. „ Located in the heart of the city centre, the property is ideally situated to take advantage of city centre attractions and transport links.
  • 128-bedroom hotel built for Travelodge in November 2010, with a large reception, restaurant and onsite parking. „
  • Let to Travelodge Hotels Ltd (D&B 5A1) for a remaining term of 21.2 years (inclusive of the landlord’s option to extend). „
  • Upward only rent reviews every 5 years linked to uncapped RPI, the next in November 2020. „
  • Current passing rent of £589,947 per annum, and forecast to rise to £683,141 per annum in November 2020*. „ The current passing rent reflects a room rate of £4,609 pa, and forecast to rise to £5,337 in November 2020. „
  • Heritable interest (Scottish Equivalent of English Freehold).
  • We are seeking off ers in excess of £9,500,000 (Nine Million Five Hundred Thousand Pounds Sterling), exclusive of VAT, for our client’s heritable interest in the property. This reflects a net initial yield of 5.85%, rising to 6.77% in November 2020, allowing for purchaser’s costs of 6.20%.

    *Forecast rent rise based on RPI index to date, followed by ONS RPI forecast until November 2020.

    Associated Sales: The property is available to purchase in isolation or as part of a three property portfolio including Premier Inn, Huntly Street, Inverness and Travelodge, Braehead, Glasgow.

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