Long leased hotel, Lowestoft
Information as per 30 September 2024 half-year report
| Investment | Investment type | Carrying value | Income return | Property type / underlying security |
|---|---|---|---|---|
Hotel, Lowestoft, UK |
Direct property |
£2.9m |
6.5%* |
Long leased hotel to Travelodge, a large UK hotel group with RPI linked rent |
* Yield on equity over twelve months to 30 September 2024, excluding Fund fees
ART has an investment of £2.9 million (property valuation as at 30 September 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 until May 2034 with a Landlord’s extension of an additional 6 years resulting in an expiry of 2040. Under the lease, the tenant is responsible for building maintenance.
The passing rent of £0.3 million p.a. has inflation linked adjustments.
