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Travelodge Gatwick Airport Central Povey Cross Rd 400 Room Hotel Horley RH6 0BE £54,000,000 (£135,000/Room) 7.25% Net Initial Yield
Investment Highlights
- Prominent budget hotel in an excellent location fronting Gatwick Airport on a large c. 4.74 acre site
- The investment offers an estimated running yield of 8.40% in 2031.
- Fully refurbished in 2021 into the new Travelodge Plus standard, the Property comprises 400 en -suite bedrooms , together with a restaurant and bar,
- Long let to Travelodge Hotels Limited on a full repairing and insuring (FRI) basis, at a passing rent of £3,013,848 per annum.
Executive Summary
Offers are sought in excess of £54,000,000 , subject to contract and exclusive of VAT, reflecting an attractive net initial yield of 7.25%* assuming purchaser’s costs of 6.80%. The investment offers an estimated running yield of 8.40% in 2031. An SPV sale is also available.
Property Facts
| Price | £54,000,000 | Total Plot Size | 4.25 ac |
| Price Per Room | £135,000 | Property Size | 297,088 sq ft |
| Sale Type | Investment | No. Rooms | 400 |
| Yield | 7.25% | No. Floors | 6 |
| Tenure | Long Leasehold | Year Built/Renovated | 1978/2018 |
| Property Type | Hospitality | Parking Allocation | 0.3/1,000 sq ft |
| Property Subtype | Hotel | Corridor | Interior |
| Costar Property Class | C |
| Price | £54,000,000 |
| Price Per Room | £135,000 |
| Sale Type | Investment |
| Yield | 7.25% |
| Tenure | Long Leasehold |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Costar Property Class | C |
| Total Plot Size | 4.25 ac |
| Property Size | 297,088 sq ft |
| No. Rooms | 400 |
| No. Floors | 6 |
| Year Built/Renovated | 1978/2018 |
| Parking Allocation | 0.3/1,000 sq ft |
| Corridor | Interior |
Amenities
- High Speed Internet Access
- Public Access Wi-Fi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | sq ft |
|---|---|---|---|
| Guest Room | 400 | £65.00 | - |
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Travelodge Gatwick Airport Central | Povey Cross Rd
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