The property opened as a Premier Inn Hotel in 2012, compromising a total of 165 bedrooms. They are fitted out to Premier Inn Brand standard, arranged over 9 floors (Ground, Mezzanine and 7 upper floors). Floors 6 and 7 have just completed refurbishment to new Premier Plus Rooms, the higher tier Premier Inn standard of room (20 rooms in total). The hotel also has a bar/lounge and restaurant (Thyme bar and grill) which serves breakfast and dinner. The restaurant has 74 covers, whilst the bar has 29 covers resulting in a total capacity for food/drink of over 100 covers.
Passing rent totals £XXX per annum, reflecting a low rent per bed of £XXX Rent reviews on are a 5 yearly upwards only basis to CPI, subject to a cap of 5% in any one year with no collar. The next review is scheduled for 20 June 2023.
Offers are sought in the region of £XXX which reflects a net initial yield of 5.60% with a forecast reversion to 6.40% in June 2023, subject to contract and exclusive of VAT assuming purchasers' costs of 6.80%.
Location Highlights
The hotel is located in the West London Borough of Ealing, just 8 miles west of Central London, 7.5 miles from London Heathrow Airport. It is situated 1.6 miles from the M4, 2.2 miles from the A40, 9.8 miles and 11.3 miles. The hotel has excellent transport links thanks to its location to Ealing Broadway and West Ealing stations, placing it on the Elizabeth, Central and District lines.
The subject property is located on part of Ealing's high street, situated within close proximity to an array of amenities, activities and consumer options. The hotel is situated within walking distance to Costa Coffee, Pret A Manger, Nando's, Wagamama, Franco Manca and Honest Burger. The area's main retail centre, Ealing Broadway Shopping Centre, is within a 5-minute walk of the hotel. Westfield Shopping Centre is also highly accessible from the hotel (3.9 miles).
The hotel benefits from Ealing's strong selection of green public spaces such as Walpole Park and Ealing common, both within close walking distance.
Specification
For specification details, please speak to one of our agents.
EPC
B (26)
Key Features
- 165 bedroom hotel with on-site parking in the heart of Ealing, West London
- New Premier Inn Plus bedroom refurbishment on floors 6 and 7, on line in January 2023
- Let to Premier Inn Hotels - the largest hotel company in the UK
- 25-year lease from 20/06/2013, with 15.2 years to expiry and 5.2 years to a break clause (20/06/2028)
- Rent reviews on a 5 yearly CPI compounded basis, subject to a cap of 5%.
- Next rent review due this year: 20/06/2023
- A low current passing rent of £XXX (£XXX/key)
- Freehold tenure incorporating the Long Leasehold with 989 years remaining
- Strong connectivity: Elizabeth, Central and District lines along with A40, M4 and M25 all nearby.
- Underpinned by the VP value
( Agency Pilot Software ref: 112859 )