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

KLM REAL ESTATE APPOINTS TWO NEW ASSOCIATE PARTNERS

February 7, 2025 - 14:24

KLM Real Estate has promoted James Williamson and Henry Gittins to Associate Partner. James joined in 2021 and works in the firm’s retail and leisure agency team acting for landlord clients such as [...]

+ Read More

HATHAWAY DEVELOPMENTS SECURES THIRD PRIME DEVELOPMENT SITE IN 18 MONTHS

February 6, 2025 - 12:00

Hathaway Developments has secured its third logistics and life science scheme in 18 months further expanding its development pipeline to almost 200,000 sq ft with a GDV of approximately £10[...]

+ Read More

Redevco and Swiss Finance & Property Secure Planning Consent for 391-Unit BTR Scheme in Glasgow’s West End

January 27, 2025 - 17:28

Redevco, one of Europe’s largest privately-owned real estate managers, and Swiss Finance & Property UK Limited have obtained planning approval for their 391-unit build to rent (BTR) redevelopmen[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR