TIME:Commercial Long Income secured the freehold of the Travelodge hotel in Kingston-upon-Thames, South West London in August 2018 for £13 million. The hotel is let in its entirety to Travelodge hotels on a Full Repairing and Insuring lease with a remaining lease term of 31 years.
The rent is reviewed every five years uncapped, linked to RPI. The tenant is the UK’s largest independent hotel brand, with more than 560 hotels and 40,000 guest bedrooms across the UK, Ireland and Spain. Travelodge operates in the attractive midscale and economy sector of the hotel market and have positioned themselves as a low-cost operator, offering standardised, modern guest rooms at affordable rates to both business and leisure customers.
The hotel is based right in the heart of the historic London suburb of Kingston-upon-Thames, with a diverse selection of shops, restaurants and entertainment venues in the surrounding area. Easily accessible via the M3, the hotel is also only a short ride on public transport from central London, Wimbledon and Richmond. A short walk along the River Thames and you’ll be within close proximity to Richmond Park, Bushy Park, Ham House and Hampton Court Palace.