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- Romford is a thriving retail centre and busy commuter town in East London in the London Borough of Havering.
- The town is located 7 miles (11.3 km) south of Brentwood, 8 miles (12.9 km) north east of Stratford and 12 miles (19.3 km) north east of Central London.
- Romford is a major metropolitan centre in Greater London being only 17 minutes from London Liverpool Street and has also benefitted from the recent opening of the Elizabeth Line.
- The property occupies a prominent position in the heart of the town centre and within a 5 minute walk from Romford Station.
- Long Leasehold interest for a term of 999 years at a peppercorn rent.
- A 65 bedroom hotel arranged over part ground and three upper floors which was developed in mn2017.
- Let to Travelodge Hotels Limited on an FRI lease with 20.3 years unexpired.
- The new rent as of July 2022 will be £443,800 per annum reflecting £6,830 per room (current passing rent is £395,935.42 per annum reflecting £6,091 per room).
- The lease is subject to 5 yearly upwards only , CPI linked rent reviews which are capped at 4%.
- The next rent review occurs on the 25th July 2022.
- We are seeking offers in excess of £6,900,000 (Six Million Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT A purchase at this level would reflect a Net Initial Yield of 6.00% assuming standard purchaser’s costs of 6.80%.
