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.