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AGENT'S DETAILS


Bishops Stortford, Hertfordshire, CM23, Hertfordshire, CM23, CM23 3BL

For sale: £8,690,000.00|Leisure Property, Hotels, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£8,690,000.00
ADDRESSBishops Stortford, Hertfordshire, CM23, Hertfordshire, CM23, Bishops Stortford, CM23 3BL
TYPELeisure Property, Hotels, Licensed & Leisure
TENUREInvestment Opportunity, Under Offer
POSTED ON14th September 2020

DESCRIPTION

Premier Inn Hotel Forward Funding Investment Opportunity - Investment Highlights:

- Forward funding opportunity to acquire a new 85-bedroom Premier Inn Hotel with a 839 sq. ft. ground floor retail unit

- Located in the centre of Bishop’s Stortford, an affluent market town with excellent transport links to central London

- Situated within a six hectare mixed-use regeneration area located adjacent to Bishop’s Stortford train station

- The hotel will be let to Premier Inn Hotels Ltd for a term of 25 years from practical completion with a tenant break in year 20

- The hotel’s initial rent will be £378,250 (£4,450 per bed) per annum and is subject to 5 yearly CPI linked rent reviews

- We anticipate the retail unit being let for £16,780 per annum during the construction period. The developer will provide a two year rent guarantee from PC if required.

- Freehold

- PC due September 2020. Planning permission granted and Agreement for Lease signed

We are seeking offers in excess of £8,690,000 (Eight Million Six Hundred and Ninety Thousand Pounds) on a traditional forward funding basis subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 4.42% assuming purchasers costs of 2.77% and a low capital value per bed of only £99,500.

LOCATION

Location: Bishops Stortford, Hertfordshire, CM23, Hertfordshire, CM23, Bishops Stortford, CM23 3BL

Bishops Stortford (0.0 miles)

Stansted Mountfitchet (2.9 miles)

Stansted Airport (4.4 miles)

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