Long leased hotel, Yardley, Birmingham
Information as per 31 March 2024 annual report
| Investment | Investment type | Carrying value | Income return | Property type / underlying security |
|---|---|---|---|---|
Hotel, Yardley, UK |
Direct property |
£4.8m |
7.7%* |
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 £4.8 million (property valuation as at 31 March 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 was purchased in August 2023 and subsequently independently valued as at 31 March 2024.
The property is leased to Travelodge Hotels Limited until November 2060 with a tenant only break option in 2035. Under the lease, the tenant is responsible for building maintenance.
The passing rent of £0.4 million p.a. has inflation linked adjustments.
