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

Luxury Retail brands Alice + Olivia and Veronica Beard set to open London flagships on Bruton Street

May 17, 2022 - 09:34

Astrea has secured two new retail brands on Mayfair’s Bruton Street. Alice + Olivia, the New York City based contemporary clothing brand, are due to open at 25 Bruton Street. It will be the first Lo[...]

+ Read More

FORWARD FUNDING AGREED FOR LEEDS HYATT HOTEL

May 13, 2022 - 09:37

Marrico Asset Management and Helios Real Estate have signed a forward funding deal with UK Commercial Property REIT Limited to build a 305-bed hotel to be operated by Interstate Group under the Hyatt [...]

+ Read More

Redevco appoints Simon Russian Development Director UK

May 12, 2022 - 13:41

Redevco, one of Europe’s largest privately-owned real estate investment managers*, has announced Simon Russian is to join its UK business as Development Director as of May 16, 2022. He will report t[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR