Holiday Inn Southend 77 Eastwoodbury Cres
129 Room Hotel Southend On Sea SS2 6XG $24,168,689 CAD ($187,354 CAD/Room) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Situated in a very prominent position
- Parking spaces
- Situated 5 minutes walk from the terminal
EXECUTIVE SUMMARY
The property is let to Thames Gateway Airport Limited on a full repairing and insuring lease of 25 years from 27 February 2018 expiring 26 February 2043, providing a long unexpired term of 18 years. The vendor is in the process of approving River Bidco as a guarantor. The current passing rent of £865,868 per annum (£6,712 per room) is subject to review five yearly, the next being due on 27 February 2028. The rent is reviewedwith reference to the Retail Prices Index (All Items) subject to a collar of 1% and 4% compounded annually
PROPERTY FACTS
| Price | $24,168,689 CAD |
| Price Per Room | $187,354 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Tenure | Freehold |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.46 AC |
| Building Size | 51,600 SF |
| No. Rooms | 129 |
| No. Stories | 5 |
| Year Built | 2012 |
| Parking Ratio | 4.26/1,000 SF |
| Corridor | Interior |
AMENITIES
- Business Center
- Fitness Center
- Restaurant
- On-Site Bar
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 4 | $277.44 CAD | - |
| Guest Room | 125 | $240.20 CAD | - |
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