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Long let hotel investment

Edinburgh, United KingdomUnlock address

87%

£11.000.000

Hotels & Resorts

#14647

Core

3 Feb 2024

Property Details

Broker

For sale

5.48 %

115

95,652

Freehold

bar and café

X

Fees

0.00 %

0.40 %

0.00 %

0.00 %

0.40 %

Investment Overview

Prominently located 115-bedroom hotel arranged over ground, part-two, and part-three upper floors. Let with a long unexpired term of 22.60 years with a tenant option to extend for a further 25 years on expiry. Attractive uncapped RPI rent review provisions with the next review in April 2025. Current passing rent of £643,112 p.a., reflecting a low rent per room of £5,592. Well underpinned by Vacant Possession Value and a range of alternative uses STP. The property was significantly redeveloped in 2010.