Hotel/guest house for sale in Hollybush Hill, London E11

Offers over £2,550,000 (£349.17/sq. ft)
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Hotel/guest house for sale

7,303 sq. ft*

Property features

  • Close to Snaresbrook underground station and the numerous amenities
  • The total gia is approximately 678.5 sqm (7,303 sqft)
  • The property is let to Travelodge Hotels Limited on an Fri lease
  • Effective term certain to 2041 (18.8 years unexpired without break)
  • Lease is subject to 5 yearly uncapped rent reviews in 2025 and 2030
  • Rent topped up to the 2025 review - £205,000 per annum
  • The property benefits from the right to use the car park
  • Future potential to provide an alternative residential focused use
  • The 999-year lease is non-restrictive towards planning and development

Property description

The property comprises a two-storey purpose-build hotel providing 24 rooms. The total area of the existing building (gia) is approximately. 678.5 sqm (7,303 sqft). The property benefits from the right to use the car park.

The property is let to Travelodge Hotels Limited on a full repairing and insuring lease expiring 9th August 2035. The total annual income is £151,509 per annum.

Furthermore there is a Landlord option to require the tenant to enter into a reversionary lease of a further 5 years, 11 months and 7 days from 10th August 2035, which if exercised provides a term of 18.8 years unexpired no break.

Lease subject to 5 yearly uncapped rent reviews, increasing with rpi indexation, in 2025 and 2030. In 2025, the rent will increase to £205,000 pa (which our client will be topping up to).

The 999-year lease is non-restrictive towards planning and development and the airspace is also demised to 999 so planning can be sought for any additional height. The 999 has been designed to be as close to a freehold as possible.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
GLPG, W1H on +44 20 3007 0694 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by GLPG, and do not constitute property particulars. Please contact GLPG for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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