HOLIDAY INN EXPRESS BIRMINGHAM Chester Road Castle …€¦ · 18-03-2020 · and has direct rail...

LONG LET HOTEL INVESTMENT

HOLIDAY INN EXPRESS BIRMINGHAMChester Road ▪ Castle Bromwich ▪ B35 7AF FOR SALE

Investment Summary

Location Situation & Description

• Virtual freehold hotel investment with long index linked income.

• 10 yearly RPI linked uncapped rent review pattern.

• Comprises a purpose built 110 bedroom hotel.

• Conveniently located less than 15 minutes from Birmingham Airport and the NEC Exhibition Centre.

• Each individual room is owned by individual investors by way of 985 year leases.

• Rent passing of £55,000 per annum, with first review

due in February 2024.

Tenure & Tenancy

Schedule

Asset Management,

EPC, VAT, Proposal &

Contacts

Investment Summary

We are instructed to seek offers in excess of £700,000(Seven Hundred Thousand Pounds), subject to contractand exclusive of VAT. A purchase at this level reflects anet initial yield of 7.40% after allowing for usual

acquisition costs of 5.3%

HOLIDAY INN EXPRESS, BIRMINGHAM

Chester Road, Castle Bromwich, B35 7AF


Investment Summary


Tenure & Tenancy

Schedule

Asset Management,


Contacts

Location

Birmingham is the second-most populous city in the United

Kingdom, with an estimated 1,137,123 inhabitants, and is

considered the social, cultural, financial, and commercial

centre of the Midlands. It is located approximately 100 miles

south of Manchester and 130 miles north of London.

The city benefits from excellent road and rail communication

links being serviced by the M5, M6, M40 & M42 motorways

and has direct rail services to Manchester Piccadilly, London

Euston, Glasgow Central and Edinburgh Waverley.

It is the main local government of the West Midlands

conurbation, which is the third most populated urban area in

the United Kingdom, with a population of 2,897,303 in 2017.

The wider Birmingham metropolitan area is the second

largest in the United Kingdom with a population of over

4.3 million.

Birmingham's economy is now dominated by the service

sector. The city is a major international commercial centre,

ranked as a beta- world city by the Globalization and World

Cities Research Network the joint highest ranking with

Edinburgh and Manchester of all British cities outside of

London; and an important transport, retail, events and

conference hub.

Its six universities make it the largest centre of higher

education in the country outside London and it is the fourth-

most visited city in the UK by foreign visitors.


Investment Summary


Tenure & Tenancy

Schedule

Asset Management,


Contacts

Situation

Description

The Holiday Inn Express, Birmingham CastleBromwich, is conveniently situated next toJunction 5 of the M6 motorway and isapproximately 20 minutes by car North East

of Birmingham city centre, 17 minutes NorthWest of the NEC and Birmingham Airport.

The surrounding area comprises a mixture ofout of town retail park, business parks and

part of the Jaguar manufacturing faculties.

Sharing the same plot and neighbouring thehotel is a large public house.

The hotel comprises a purpose built 110bedroom hotel with reception, bar loungearea, breakfast area and meeting room.

There is ample on site parking which iscomplementary to hotel guests.

The hotel was originally built in 1999 andwas refurbished and rebranded as a Holiday

Inn Express in 2014. 64 out of the 110bedrooms have air-conditioning.


Castle Bromwich, Birmingham, B35 7AF

Investment Summary


Tenure & Tenancy

Schedule

Asset Management,


Contacts

Tenure

Tenancy Schedule

The property is held by way of a virtual freehold on a999 year lease dated 17th October 2001 on apeppercorn rent

• All 110 bedrooms rooms are subject to 985 yearleases set to expire on the 31 January 2999

• The passing rent is £500 p.a.

• The first review date is the 1 February 2024 andthen every 10th anniversary of that date.

• The rent is subject to upward only RPI linked rent

reviews with no cap.

• Total initial rental income of £55,000 p.a.



Investment Summary


Tenure & Tenancy

Schedule

Asset Management,


Contacts

We are instructed to seek offers in excess of£700,000 (Seven Hundred ThousandPounds), subject to contract and exclusive ofVAT. A purchase at this level reflects a net

initial yield of 7.40% after allowing for usualacquisition costs of 5.3%

Contacts

For further information or to arrange a siteinspection, please contact the following, please donot contact the hotel directly :

Proposal

Daniel WhittakerE: [email protected]

T: 0161 242 8010

Martin DavisE: [email protected]

T: 0161 242 7016

Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries andtheir joint agents if any (“LSH”) for themselves and for the seller or landlord

of the property whose agents they are give notice that: (i) These particulars

are given and any statement about the property is made without

responsibility on the part of LSH or the seller or landlord and do not

constitute the whole or any part of an offer or contract. (ii) Any description,dimension, distance or area given or any reference made to condition,

working order or availability of services or facilities, fixtures or fittings, any

guarantee or warrantee or statutory or any other permission, approval or

reference to suitability for use or occupation, photograph, plan, drawing,

aspect or financial or investment information or tenancy and title details orany other information set out in these particulars or otherwise provided shall

not be relied on as statements or representations of fact or at all and any

prospective buyer or tenant must satisfy themselves by inspection or

otherwise as to the accuracy of all information or suitability of the property.

(iii) No employee of LSH has any authority to make or give anyrepresentation or warranty arising from these particulars or otherwise or

enter into any contract whatsoever in relation to the property in respect of

any prospective purchase or letting including in respect of any re-sale

potential or value or at all. (iv) Price or rent may be subject to VAT and any

prospective buyer or tenant must satisfy themselves concerning the correctVAT position. (v) Except in respect of death or personal injury caused by the

negligence of LSH or its employees or agents, LSH will not be liable,

whether in negligence or otherwise howsoever, for any loss arising from the

use of these particulars or any information provided in respect of the

property save to the extent that any statement or information has been madeor given fraudulently by LSH. (vi) In the case of new development or

refurbishment prospective buyers or tenants should not rely on any artists’

impressions or architects’ drawings or specification or scope of works or

amenities, infrastructure or services or information concerning views,

character or appearance and timing concerning availability or occupationand prospective buyers or tenants must take legal advice to ensure that any

expectations they may have are provided for direct with the seller or landlord

and LSH shall have no liability whatsoever concerning any variation or

discrepancy in connection with such matters.

Feb 2018. LSH Manchester .

VAT

The Property is elected for VAT

EPC

The property has an EPC dated 29 Nov 2012and has an Energy Performance AssetRating of C with a score of 75



March 2020

HOLIDAY INN EXPRESS BIRMINGHAM Chester Road Castle …€¦ · 18-03-2020 · and has direct rail...

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