£4,000,000
(£346.66/sq. ft)
Hotel for saleChigwell Road, Woodford Green IG8
12,260 sq. ft
About this property
Let to Travelodge Hotels Limited
Rent to be topped up to £316,982 per annum
There is potential to provide alternative residential focused uses
The property benefits from right to use the car park
There is also an opportunity to add an additional floor
Virtual Freehold - 999 years from 10th August 2010
Let to Travelodge Hotels Limited on an Fri lease expiring 9th August 2035; Landlord-only option to extend to July 2041.
Rent to be topped up (2025 review) to £316,982 per annum.
There is potential to provide alternative residential focused uses, in particular utilising the existing layout, subject to obtaining all necessary consents.
The property benefits from right to use the car park.
There is also an opportunity to add an additional floor, subject to vacant possession and obtaining all necessary consents.
The property is located a 15-minute walk from Chigwell Underground Station.
Virtual Freehold - 999 years from 10th August 2010, at a ground rent of £10 per annum.
We are seeking offers of £4,000,000, subject to contract. A purchase at this level would reflect a Net Initial Yield of 7.42% on the topped-up rent, assuming purchaser’s costs of 6.8%, and a low capital value psf of £326.
Rent to be topped up (2025 review) to £316,982 per annum.
There is potential to provide alternative residential focused uses, in particular utilising the existing layout, subject to obtaining all necessary consents.
The property benefits from right to use the car park.
There is also an opportunity to add an additional floor, subject to vacant possession and obtaining all necessary consents.
The property is located a 15-minute walk from Chigwell Underground Station.
Virtual Freehold - 999 years from 10th August 2010, at a ground rent of £10 per annum.
We are seeking offers of £4,000,000, subject to contract. A purchase at this level would reflect a Net Initial Yield of 7.42% on the topped-up rent, assuming purchaser’s costs of 6.8%, and a low capital value psf of £326.
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