Hotel Investment – Great Yarmouth

North River Road, Runham Vauxhall, Great Yarmouth, NR30 1SH

For Sale

Terms

6,757 sq ft

Size

Gallery

Prominent 80-bedroom Premier Inn hotel with restaurant
Strategically situated on the A47 close to the train station, beach and all local amenities
Let to Premier Inn Hotels Ltd on a 25 year lease expiring March 2040, providing an unexpired term of 14.5 years to expiry with a tenant only break option in March 2035
Current passing rent of £578,444 per annum, reflecting a low rent per room of £7,231. The next review is due in March 2030
Rent is subject to 5 yearly (compounded annually) rent reviews with CPI linked uplifts, collared at 0% and 5%
Total site area of approximately 1.67 acres (0.67 hectares).
Asset management opportunities
Freehold

We are seeking offers in excess of £8,033,000 (Eight Million, Thirty Three Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 6.75% assuming purchaser’s costs of 6.68% and a capital value per bed of only £100,412 (based on 80 beds)