Commercial Property Tyne & Wear NE13 £3.2M UNSOLD, CONTACT AUCTIONEER FOR RESERVE PRICE/AVAILABILITY STATUS

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Auction date: Wed, 23/03/2022 - 10:00

Freehold prominent Travelodge Hotel investment set within the extensive Seaton Burns motorway services, let by way of an FRI lease until 2029 with a passing rent of £173,390.00 per annum with upward only 5 yearly reviews. The Freeholder has the benefit of a unilateral option to extend the lease for an additional term of approximately 9 years 11 months, all as calculated by way of a prescribed formulae. Additionally, the Tenant has the option to renew the lease for a further term of 25 years. The wider site also comprises a Greggs, a Burger King, an ESSO petrol station and onsite parking, all of which are held by an underlease, to the Travelodge headlease, in favour of the EG Group

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newcastle upon tyne tyne and wear NE13 for sale buy to let landlord portfolio selling property auction property investment property property auctions newcastle upon tyne

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