OYO Shilton Inn, 32 Wood Street Earl Shilton Nr Leicester Leicestershire LE9 7ND

OYO Shilton Inn, 32 Wood Street
Earl Shilton Nr Leicester
Leicestershire
LE9 7ND

Freehold Hotel Investment

Comprises a 38 room hotel with banqueting suite, wine bar and restaurant.
Recent refurbishment programme undertaken.
Town centre location
Mallory park motor racing circuit 2 miles north.
Triumph motorcycle factory 4 miles south west.
Neighbouring occupiers Earl Shilton Building Society Headquarters, Premier Convenience Store and Domino's.

Lot
14
Auction
12th December 2024
Rent
£153,305 per Annum
(1)
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Hotel Investment

Comprises a 38 room hotel with banqueting suite, wine bar and restaurant.
Recent refurbishment programme undertaken.
Town centre location
Mallory park motor racing circuit 2 miles north.
Triumph motorcycle factory 4 miles south west.
Neighbouring occupiers Earl Shilton Building Society Headquarters, Premier Convenience Store and Domino's.

Lot 14
Auction 12th December 2024
Rent £153,305 per Annum (1)
Status Withdrawn Prior
Price
Sector
Leisure
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 8 miles South-west of Leicester. 3 miles North East of Hinckley
Roads: A47, M69, A5
Rail: Hinckley Railway Station, Leicester Railway Station.
Air: East Midlands Airport

Situation

The property is prominently situated North side of Wood Street at its junction with King's Walk. Neighbouring commercial occupiers include Co-Op, Earl Shilton Building Society Headquarters, Premier Convenience Store and Domino's.

Tenure

Freehold.

Location

Miles: 8 miles South-west of Leicester. 3 miles North East of Hinckley
Roads: A47, M69, A5
Rail: Hinckley Railway Station, Leicester Railway Station.
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The Property comprises a 38 room hotel with a wine bar and a restaurant.

VAT

VAT is not applicable to this lot.

Completion Period

6 Week Completion

EPC

Band C

Description

The Property comprises a 38 room hotel with a wine bar and a restaurant.

VAT

VAT is not applicable to this lot.

Completion Period

6 Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Occupier	Term	Income (1)	Reversion
Ground and First	38 Room Hotel and Banqueting Suite	-	-	Oyo Technology and Hospitality (UK) Limited (crn 11202796) (1)	5 years from 17th July 2024 (3)	£107,805 (1)	16th July 2029
Ground	Restaurant	-	-	Individual	3 years from November 2024 (3)	£28,600 (3)	November 2027
Ground	Wine Bar	-	-	Individual	3 years from November 2024 (4)	£16,900 (4)	November 2027
Total						£153,305 (1)

(1) The property is not subject to a lease and therefore figure stated above anticipated Freeholder profits and not rent, as the property is subject to a Management Agreement operated by Oyo Technology and Hospitality (UK) Limited (crn 11202796). The figure of £107,805 per annum shown above are the anticipated profits to the Freeholder based on an occupancy rate of 55% and an Accounting Revenue of £405,425 and after deductions of cost pursuant to the Management Agreement.
(2) For the year ending 31st March 2023 Oyo Technology and Hospitality (UK) Limited reported Revenue of £82,389,000 (Source: Financial Statements for the years ending 31st March 2023 as publishes at Companies House)
(3) As to the Restaurant the lease provides for a Landlord option to determine the lease on 90 days written notice and the rents reserved under the terms of the lease to be £375 per week inclusive.
(4) As to the Wine Bar the lease provides for a Mutual option to determine the lease on 90 days written notice and the rents reserved under the terms of the lease to be £550 per week inclusive.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.