Long leased hotel, Lowestoft
Information as per 31 March 2024 annual report
| Investment | Investment type | Carrying value | Income return | Property type / underlying security |
|---|---|---|---|---|
Hotel, Lowestoft, UK |
Direct property |
£2.7m |
5.2%* |
Long leased hotel to Travelodge, a large UK hotel group with RPI linked rent |
* Annualised monthly return, excluding Fund fees
ART has an investment of £2.7 million (property valuation as at 31 March 2024) in a 47-bedroom property, which is held freehold and occupies a site of 1.08 acres in Lowestoft, a well established and well connected area located in close proximity to the A47 which runs to Norwich.
The property is leased to Travelodge Hotels Limited on an 18 year unexpired lease term. Under the lease, the tenant is responsible for building maintenance.
The passing rent of £0.2 million p.a. has inflation linked adjustments.
