Travelodge St Clears Carmarthen Tenby Road Carmarthen Carmarthenshire SA33 4JN

Travelodge St Clears Carmarthen
Tenby Road
Carmarthen
Carmarthenshire
SA33 4JN

Freehold Hotel and Restaurant Investment

Entirely let to Travelodge Hotels Limited until 2039 (no breaks) (3)
Standalone restaurant sublet to Wycliffe Moore Limited (part of Euro Garages) t/a Starbucks (2)
RPI linked 5 yearly uplifts (uncapped)
Prominent position on A40

Lot
6
Auction
24th October 2019
Rent
£194,571 per Annum Exclusive
Status
Sold
Price
£3,210,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of Trustees

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Freehold Hotel and Restaurant Investment

Entirely let to Travelodge Hotels Limited until 2039 (no breaks) (3)
Standalone restaurant sublet to Wycliffe Moore Limited (part of Euro Garages) t/a Starbucks (2)
RPI linked 5 yearly uplifts (uncapped)
Prominent position on A40

Lot 6
Auction 24th October 2019
Rent £194,571 per Annum Exclusive
Status Sold
Price £3,210,000
Sector
Leisure
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of Trustees

Property Information

Location

Miles: 35 miles north-west of Swansea; 73 miles north-west of Cardiff
Roads: A40, A477, A48
Air: Cardiff Airport

Situation

Carmarthen is the county town of Carmarthenshire, located some 27 miles north-west of Swansea and 60 miles west of Cardiff. Benefitting from a £74 million development in 2010, Carmarthen was ranked last year as one of the top retail centres in Wales. The site occupies a prominent position on the A40 at its junction with the A4066, which leads to the A48 and connects to the M4 Motorway to the east. The property is located 9 miles south-west of Carmarthen town centre in the village of St Clears.

Tenure

Freehold.

Location

Miles: 35 miles north-west of Swansea; 73 miles north-west of Cardiff
Roads: A40, A477, A48
Air: Cardiff Airport

Situation

Tenure

Freehold.

Description

The property comprises a 51 bed two storey hotel and a standalone Starbucks restaurant. The property benefits from on-site parking for approximately 70 cars and a site area of approximately 2.35 acres (0.951 hectares).

VAT

VAT is applicable to this lot.

EPC

Band E.

Description

VAT

VAT is applicable to this lot.

EPC

Band E.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First Ground	Hotel Hotel Café/Restaurant	701.40 sq m 680.60 sq m 213.40 sq m	(7,550 sq ft) (7,326 sq ft) (2,297 sq ft)	TRAVELODGE HOTELS LIMITED (1) (2)	A term of years expiring 08/08/2039 (3) on a full repairing and insuring lease	£194,571	01/10/2022 and five yearly (4)
Total		1,595.40 sq m	(17,173 sq ft)			£194,571

(1) For the year ending 31st December 2018, Travelodge Hotels Limited reported a turnover of £680,200,000, pre-tax profits of £49,200,000 and a total net worth of £361,800,000 (Source: Experian Group 11/06/2019). Travelodge is the UK's largest independent hotel brand, with more than 560 hotels and 40,000 guest bedrooms. More than 170 of their hotels have an on-site bar/café/restaurant, and almost all are located close to other restaurants and coffee shops, making Travelodge the ideal base for travel (Source: www.travelodge.co.uk 11/06/2019).
(2) Part of the property has been sublet to Wycliffe Moore Limited t/a Starbucks until 2029 at a current passing rent of £18,259 p.a.x. Wycliffe Moore Limited is part of Euro Garages Limited, which is the world's leading independent fuel station and convenience retailer
(source: eurogarages.com)
(3) The current lease is for a term of years expiring 07/08/2029, subject to a landlord's only option to extend the term until 08/08/2039 as outlined in the option agreement available in the legal pack.
(4) The rent reviews are linked to the Retail Price Index.