An attractive purpose-built hotel providing 24 rooms located in Snaresbrook, East London.

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An attractive purpose-built hotel providing 24 rooms located in Snaresbrook, East London. The property comprises a two-storey purpose-build hotel providing 24 rooms. The total area of the existing building (GIA) is approximately. 678.5 sqm (7,303 sqft). The property benefits from the right to use the car park.

The property is let to Travelodge Hotels Limited on a full repairing and insuring lease expiring 9th August 2035. The total annual income is £151,509 per annum.

Furthermore there is a Landlord option to require the tenant to enter into a reversionary lease of a further 5 years, 11 months and 7 days from 10th August 2035, which if exercised provides a term of 18.8 years unexpired no break.

Lease subject to 5 yearly uncapped rent reviews, increasing with RPI indexation, in 2025 and 2030. In 2025, the rent will increase to £205,000 PA (which our client will be topping up to).

The 999-year lease is non-restrictive towards planning and development and the airspace is also demised to 999 so planning can be sought for any additional height. The 999 has been designed to be as close to a freehold as possible.