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Travelodge Gatwick Airport Central Povey Cross Rd 400 Room Hotel Horley RH6 0BE $71,309,720 ($178,274/Room) 7.25% Cap Rate
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 | $71,309,720 | Lot Size | 4.25 AC |
| Price Per Room | $178,274 | Building Size | 297,088 SF |
| Sale Type | Investment | No. Rooms | 400 |
| Cap Rate | 7.25% | No. Stories | 6 |
| Tenure | Long Leasehold | Year Built/Renovated | 1978/2018 |
| Property Type | Hospitality | Parking Ratio | 0.3/1,000 SF |
| Property Subtype | Hotel | Corridor | Interior |
| Building Class | C |
| Price | $71,309,720 |
| Price Per Room | $178,274 |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| Tenure | Long Leasehold |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.25 AC |
| Building Size | 297,088 SF |
| No. Rooms | 400 |
| No. Stories | 6 |
| Year Built/Renovated | 1978/2018 |
| Parking Ratio | 0.3/1,000 SF |
| Corridor | Interior |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 400 | $85.84 | - |
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Travelodge Gatwick Airport Central | Povey Cross Rd
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