Commercial property
Investment for sale
Premier Inn Hotel and Restaurant Pre-Let Funding ,Plot 2, Oxford Technology Park, Langford Lane, Kidlington, Oxfordshire

Investment for sale
£14,300,000 / NIY 4.5%
Summary
  • Forward funding of a new 4 storey Premier Inn hotel and Beefeater restaurant on the Oxford Technology Park
  • Oxford Technology Park is located on the north side of Oxford adjacent to London Oxford Airport
  • Development to comprise a 101 bed hotel and 150 cover restaurant
  • New 25 year FR&I lease to Premier Inn Hotels Limited, subject to a tenant break option in year 20
  • The initial rent is anticipated to be £660,500 per annum exclusive (reflecting £5,500 per key plus £19.83 per sq ft for the restaurant)
  • The rent is subject to 5 yearly upwards only rent reviews linked to CPI, collared and capped at 0% and 4% pa
  • Premier Inn Hotels Limited are a subsidiary of Whitbread Plc with a D&B rating of 5A1
  • Full forward funding sought with offers invited in excess of £14,300,000 subject to  contract and exclusive of VAT which reflects a net initial yield of 4.5% assuming actual purchaser’s costs at 2.58%.
Done
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