Instructions

HOTEL PORTFOLIO, ALL LET TO WHITBREAD GROUP PLC

UNDER OFFER

Details:

Four freehold Premier Inn hotel investments with combined restaurants. The locations are:

• Welwyn Garden City – Stanborough Road, AL8 6DQ
• Gravesend (Central) – Wrotham Road, DA11 7LF
• Liverpool (West Derby) – Queens Drive, L13 0DL
• Norwich (Airport) – Holt Road, Delft Way, NR6 6BB

  • Let to Whitbread Group Plc (D&B5A1).
  • Each is let for in excess of 20 years expiring on 18 December 2037 with 5 yearly reviews to CPI having a collar and cap of 0% and 4% pa.
  • The next review is December 2017 and we have projected the rents to the current March 2017 CPI levels.
  • 20 year CPI income.
  • The projected rents total £1,759,469 pa.
  • Offers are sought in excess of £34,693,000 for the four properties, either individually or as a package.
  • This produces a net initial yield of 4.75%, (assuming acquisition costs of 6.77%).
  • Individual lot sizes range from £6.9m to £11.7m.

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