Travelodge
A90, Kingsway
Dundee
Tayside
DD2 4TD

Freehold Hotel and Restaurant Investment

  • Entirely let to Travelodge Hotels Limited until 2037 (no breaks) (3) with RPI linked rent reviews
  • Part sublet to Subway Realty Limited t/a Subway
  • Prominent position on A90 adjacent to BP filling station with an M&S Simply Food store
  • Site area of approximately 0.847 acres (0.342 hectares)
  • Lot
    9
  • Auction
    23/May/2019
  • Rent
    £112,928 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,880,000
  • Sector
    Leisure
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Trustees

  • Travelodge<br>A90, Kingsway<br>Dundee<br>Tayside<br>DD2 4TD
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  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
3 miles north of Dundee Airport
19 miles north-east of Perth
67.5 miles south-west of Aberdeen
Roads
A90, A923
Rail
Dundee Rail, Invergowrie Rail
Air
Dundee Airport, Aberdeen Airport
Situation

The historic city of Dundee is Scotland's fourth largest city, located on the north bank of the River Tay. The property itself occupies a prominent position on the A90, which heads eastbound towards Aberdeen and westbound towards Perth. Adjacent to the property is a BP filling station and an M&S Simply Food store. To the west of the property is the West Gourdie Industrial Estate. Dundee city is benefiting from a £1 billion development of the waterfront, which encompasses 240 hectares of development land stretching 8km alongside the River Tay and is the 3rd largest regeneration project in the UK (source: www.dundeewaterfront.com).

Tenure

Freehold.

Description

The property comprises a 32 bed two storey hotel and a standalone Subway restaurant. The property benefits from on-site parking for approximately 53 cars and a site area of approximately 0.847acres (0.342 hectares).

VAT

VAT is applicable to this lot.

EPC

Band G. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.x. Reviews
Travelodge

Subway
Ground
First
Ground
Hotel
Hotel
Restaurant
438.80 sq m
425.40 sq m
223.20 sq m
(4,724 sq ft)
(4,579 sq ft)
(2,403 sq ft)
TRAVELODGE
HOTELS LIMITED
(1) (2)
A term of years
expiring 25/09/2037
(3) on a full
repairing and
insuring lease
£112,92801/10/2023
and five yearly (4)
Total
1,087.40 sq m
(11,706 sq ft)
  £112,928 

(1) For the year ending 31st December 2017, Travelodge Hotels Limited reported a turnover of £624,000,000, pre-tax profits of £45,200,000 and a total net worth of £303,200,000 (Source: Experian Group 18/04/2019). Travelodge is the UK's largest independent hotel brand, with more than 560 hotels and 40,000 guest bedrooms. "More than 170 of our hotels have our on-site bar café restaurant, and almost all are located close to other restaurants and coffee shops, making Travelodge the ideal base for travel." (Source: www.travelodge.co.uk 06/11/2018).
(2) Part of the property has been sublet to Subway Realty Limited t/a Subway at £23,250 p.a.x. There is also a second sub-lease of some telecommunication equipment. Please refer to the legal pack for further information.
(3) The current lease is for a term of years expiring 30/09/2029, subject to a landlord's only option to extend the term until 25/09/2037 as outlined in the option agreement available in the legal pack.
(4) The rent reviews are linked to the Retail Price Index.

Property Documents

  • Catalogue Page
    Updated Date
    01.05.19
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    01.05.19
    File Size
    1 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Mhairi JarvisMhairi Jarvis +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Associate Auctioneers
CBRE Limited Henrietta House, Henrietta Place
London
W1G 0NB
Daniel Mattey 020 3257 6753daniel.mattey@cbre.com
Seller's Solicitors
Brodies LLP 15 Atholl Crescent
Edinburgh
EH3 8HA
Euan Mellor 0131 656 0159 euan.mellor@brodies.com

Useful Links

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