Long leased hotel, Wadebridge, Cornwall
Information as per 30 September 2024 half-year report
| Investment | Investment type | Carrying value | Income return | Property type / underlying security |
|---|---|---|---|---|
Hotel, Wadebridge, |
Direct property |
£3.3m |
6.6%* |
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 £3.3 million (property valuation as at 30 September 2024) in a 55-bedroom property, which is held freehold and is situated on the outskirts of Wadebridge in the county of Cornwall. The hotel is in a well-connected location in close proximity to the A39.
The property is leased to Travelodge Hotels Limited until September 2035 with a Landlord’s extension of an additional 7 years resulting in an expiry of 2042. Under the lease, the tenant is responsible for building maintenance.
The passing rent of £0.3 million p.a. has inflation linked adjustments.
