Hotels Portfolio

Travelodge, Starbucks & Greggs
Melksham, near Bath
Description
Travelodge budget hotel, with ancillary Starbucks coffee drive-thru and Greggs retail unit
Acquisition Structure
Pre-let forward funding
Date Acquired
March 2017
Rent Review
Travelodge - Consumer Price Index; Starbucks – Retail Price Index; Greggs – Open Market Value
Tenant Guarantor
Travelodge Hotels Limited, Starbucks Coffee Company (UK) Limited and Greggs plc
Lease Term
Travelodge - 25 years, without break; Starbucks –
15 years, without break; Greggs – 10 years, with a break at year 5
Cambridge Belfry Hotel
Cambourne, Cambridge
Description
4 star, full service hotel
Size
120 bedrooms
Acquisition Structure
Built asset
Date Acquired
April 2017
Rent Review
Consumer Price Index
Tenant Guarantor
QHotels Holdings Limited
Lease Term
22 years, without break
Premier Inn & Beefeater
Whitley Bay, North Tyneside
Description  
Premier Inn budget hotel and Beefeater restaurant
Size
68 bedrooms and 190 cover restaurant
Acquisition Structure
Pre-let forward commitment
Date Acquired
April 2017
Rent Review
Consumer Price Index
Tenant Guarantor
Premier Inn Hotels Limited
Lease Term
25 years, with a break at year 20
Travelodge, Starbucks & Subway
Swindon, Wiltshire
Description
Travelodge budget hotel, with ancillary Starbucks Coffee drive-thru and Subway drive-thru restaurant
Size
70 bedroom hotel, 1,800 sq ft Starbucks and 1,250 sq ft Subway
Acquisition Structure
Pre-let forward funding
Date Acquired
May 2017
Rent Review
Travelodge – Consumer Price Index; Starbucks – Retail Price Index; Subway – Open Market Value
Tenant Guarantor
Travelodge Hotels Limited, Starbucks Coffee Company (UK) Limited and Subway Realty Limited
Lease Term
Travelodge – 25 years, without break; Starbucks – 15 years, without break; Subway – 15 years, with breaks in year 6 and 11
Travelodge, Costa Coffee & KFC
Camborne, Cornwall
Description
Travelodge budget hotel, with Costa Coffee drive-thru and KFC drive-thru restaurant
Size
63 bedroom hotel, 1,800 sq ft Costa Coffee and 2,950 sq ft KFC restaurant
Acquisition Structure
Pre-let forward funding
Date Acquired
July 2017
Rent Review
Travelodge - Consumer Price Index; Costa Coffee and KFC – Open Market Value
Tenant Guarantor
Travelodge Hotels Limited, Costa Limited and KFC Franchisee
Lease Term
Travelodge - 25 years, without break; Costa –10 years, without break; KFC – 20 years, with a break in 10
Premier Inn
Middlesbrough, North Yorkshire
Description
Premier Inn budget hotel
Size
83 bedroom hotel
Acquisition Structure
Pre-let forward commitment
Date Acquired
August 2017
Rent Review
Consumer Price Index
Tenant Guarantor
Whitbread Group PLC
Lease Term
25 years, with a break in year 20
Premier Inn hotel
Chesterfield
Description
Premier Inn budget hotel
Size
91 bedrooms
Acquisition Structure
Pre-let forward funding
Date Acquired
November 2017
Rent Review
Consumer Price Index
Tenant Guarantor
Whitbread Group PLC
Lease Term
25 years, without break
Jurys Inn hotel
Plymouth
Description
Full service hotel
Size
247 bedrooms
Acquisition Structure
Built asset
Date Acquired
October 2018
Rent Review
Retail Price Index
Tenant Guarantor
Jurys Hotel Management (UK) Limited
Lease Term
24 years, without break
Travelodge hotel
Edinburgh Park, Edinburgh
Description
Travelodge budget hotel
Size
70 bedrooms
Acquisition Structure
Pre-let forward funding
Date Acquired
October 2018
Rent Review
Consumer Price Index
Tenant Guarantor
Travelodge Hotels Limited
Lease Term
25 years, without break
Travelodge hotel portfolio
Aberdeen, Brighton, Liverpool, Llanelli and Nuneaton
Description
Portfolio of budget hotels
Size
387 bedrooms in total
Acquisition Structure
Built assets
Date Acquired
November 2018
Rent Review
Retail Price Index
Tenant Guarantor
Travelodge Hotels Limited
Lease Term
24 years, without break
Travelodge
Gosport, Hampshire
Description
Travelodge budget hotel
Size
70 bedroom hotel
Acquisition Structure
Pre-let forward funding
Date Acquired
January 2019
Rent Review
Consumer Price Index
Tenant Guarantor
Travelodge Hotels Limited
Lease Term
25 years, without break
Travelodge & Costa
Workington, Cumbria
Description
Travelodge budget hotel, with ancillary Costa retail unit
Size
78 bedroom hotel
Acquisition Structure
Pre-let forward funding
Date Acquired
June 2019
Rent Review
Retail Price Index
Tenant Guarantor
Travelodge Hotels Ltd and Costa Limited
Lease Term
Travelodge - 25 years, without break; Costa - 15 years, without break
Premier Inn
Worksop, Nottinghamshire
Description
Premier Inn budget hotel
Size
82 bedroom hotel
Acquisition Structure
Pre-let forward funding
Date Acquired
August 2019
Rent Review
Consumer Price Index
Tenant Guarantor
Premier Inn Hotels Limited
Lease Term
25 years, with a break in year 20
Travelodge
Sandwich, Kent
Description
Travelodge budget hotel
Size
75 bedroom hotel
Acquisition Structure
Pre-let forward funding
Date Acquired
September 2019
Rent Review
Consumer Price Index
Tenant Guarantor
Travelodge Hotels Ltd  
Lease Term
25 years, without break
Premier Inn led scheme
Saffron Walden, Essex
Description
Premier Inn budget hotel, B&M, Pure Gym, Costa & Pets at Home
Acquisition Structure
Pre-let forward funding
Date Acquired
September 2019
Rent Review
Premier Inn - Consumer Price Index, Pure Gym – Retail Price Index and Open Market Value on all other tenancies
Tenant Guarantor
Premier Inn Hotels Limited, B&M Retail Limited, Pure Gym Limited & Pets at Home Limited
Lease Term
Premier Inn - 25 years, with a break in 20; Pure Gym - 15 years, with a break in 10; Pets at Home - 15 years, with a break in year 10; B&M - 15 years, without break; Costa - 15 years, without break