Long leased hotel, Yardley, Birmingham
Information as per 30 September 2024 half-year report
| Investment | Investment type | Carrying value | Income return | Property type / underlying security |
|---|---|---|---|---|
Hotel, Yardley, UK |
Direct property |
£4.8m |
8.1%* |
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 £4.8 million (property valuation as at 30 September 2024) in a 64-bedroom property, which is held freehold and occupies a site of 1.42 acres and has 116 car parking spaces in Yardley. The hotel is situated to the east of Birmingham City Centre off the A45. The hotel is in a well-connected location equidistant between Birmingham City Centre to the west and Birmingham Airport to the east.
The property is leased to Travelodge Hotels Limited until November 2060 with a tenant only break option in 2035 (11 years unexpired). Under the lease, the tenant is responsible for building maintenance.
The passing rent of £0.4 million p.a. has inflation linked adjustments.
