132-bedroom hotel part of a landmark mixed-use building

Situated in Tolworth, an affluent commuter area with excellent transport links to central London. Located in a highly accessible area near to Tolworth Railway Station and the Kingston Bypass (A3). 132-bedroom hotel which forms part of a landmark, mixed-use building. 42,943 sq ft (3,989 sq m). Let to Travelodge Hotels Ltd for an effective remaining term of c. 18 years. The tenant has an option to extend for a further 25 years upon expiry. Rent passing £811,586 per annum (£6,148 per bed), subject to 5 yearly uncapped CPI linked rent reviews. Passing rent represents an extremely low room rate for comparable London budget hotels. Based upon current CPI figures and forecasting at 3% per annumup to point of review, rent will rise to a minimum of £955,428 per annum (£7,238 per bed) in Oct 2027. New virtual freehold (999 years remaining) at a peppercorn rent. Directly underpinned by vacant possession value to convert to residential, subject to obtaining the necessary planning consent.