RO Purchases Taunton Travelodge

March 11, 2014

RO Regional Properties, advised by HSM, has purchased the freehold investment of a Travelodge hotel on Riverside Retail Park, Taunton for £2.56 million.

The 64-bed hotel is let to Travelodge until March 2058, with a break in August 2042, at a rent of £177,920 pa subject to five yearly index linked uplifts. The deal reflects a net initial yield of 6.57%.

Savills advised Kevin Mersh and Matthew Nagle, acting as joint LPA receivers.

 

–       ends–

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