Leisure Scheme In Hemel Hempstead Sold To LaSalle Investment Management For £7.6 million

March 19, 2014

LaSalle Investment Management, on behalf of Coal Pension Properties Ltd, has purchased a gateway leisure development at Hemel Hempstead for £7.65 million.

The scheme is let to Travelodge, Toby Carvery, Domino Pizza and Subway at a rental of £545,000 pa, representing an initial yield of 6.74%. HSM concluded the deal for LaSalle Investment Management within three weeks.

Only 1 mile from the M1 and close to the Warner Bros Harry Potter Studio tour and an alpine condition real ski slope, the Travelodge hotel has been running at close to full capacity since opening. There is significant planned investment in Hemel Hempstead town centre and additional phases of development in the immediate area, which will further enhance this gateway location.

Tim Morgan of HSM comments, “The average unexpired lease term is almost 24 years and this is a well established leisure development in a good location, offering excellent growth potential off a low room rate of only £3,850 pa. Over 200,000 people live within 6 miles of the development and this location, with its proximity to both the town centre and the motorway, services both a local and regional requirement .”

Kier Ventures were advised by Fawcett Mead, LaSalle Investment Management by HSM.

-Ends-

Latest News

NASH BOND PROMOTES TALENTED STAFF

October 17, 2021 - 11:40

Leading Central London retail and leisure property advisors Nash Bond have promoted Emma Strang, Lottie Newman and Matthew Peters to Director. In addition, they have promoted Alex Hughes to Associate [...]

+ Read More

CBRE IM BOOSTS F&B AND RETAIL OFFER AT HAMMERSMITH BROADWAY SHOPPING CENTRE

October 7, 2021 - 12:01

CBRE IM, advised by GCW and Nash Bond, have boosted the retail and leisure offering at Hammersmith Broadway Shopping Centre in west London with two new lettings. Joe & The Juice will open in 1,154[...]

+ Read More

IV REAL ESTATE SHAKES UP BRISTOL’S CORN STREET WITH LONDON COCKTAIL CLUB DEAL

September 27, 2021 - 08:39

IV Real Estate has secured its first letting at Gilbert House, a recently redeveloped 12,475 sq ft retail and office building at 37-39 Corn Street, Bristol. The London Cocktail Club will open its seco[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR