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230 bedroom hotel close to Heathrow Airport

West Drayton, United Kingdom

82%

£30.000.000

Hotels & Resorts

#35236

Core+

28 Oct 2024

Property Details

Broker

For sale

230

130,435

Freehold

Lease

Bar, Restaurant, Gym. Meeting Rooms

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Purpose built hotel located on the Bath Road adjacent to the London Heathrow International Airport. Opportunity to secure Vacant Possession via a Landlord only Break Clause that is exercisable on 1st February 2026. Bar lounge with seating for approximately 50 people and restaurant with approximately 140 covers. 14 meeting and conference rooms, with the largest able to accommodate 130 people. Subject to a fully repairing and insuring lease with 5 yearly RPI indexed uplifts (subject to a cap at 4% annually compounded). Let to Leonardo Hotels with a parent company guarantee from Fattal Hotels Limited and a rental guarantee of up to £750,000 per annum. Lease term is for 25 years from 16th March 2016, terminating on 15th March 2040. Passing Rent of £1,700,000 which is expected to increase to just over £2 million at the next rent review in March 2025 and will be topped up by the Vendor. Health facilities including a modern, well-equipped fitness area and two spa treatment rooms