Hilton Edinburgh Airport - SOLD

Type
Hotels
Location
Edinburgh
Tenure
Leasehold

Guide Price £13,250,000

100 Eastfield Road, Edinburgh, EH28 8LL

Descriptions

Description

53 year unexpired secure income stream

150 bedrooms Star Hilton with leisure club, extensive conferencing a food and beverage facilities. Car parking for approx. 280 cars.

Large site of 2.68 Hectares (6.62 Acres) allowing clear expansion potential.

100% prime site within apron to Edinburgh Airport.

Ground lease with an unexpired term of 982 years at Peppercorn rental.

Occupational lease with 53 years unexpired.

Minimum Guaranteed Rent £448,287 with additional turnover element - 2015 Rent £498,376.

Year to 30th June 2016 Rental - 8.64% higher than same period in 2015.

Guaranteed rent subject to 5 year reviews with genuine growth prospects (currently undergoing £3m refurbishment).

Guarantor Hilton Worldwide Limited.

Highly affordable rent with value enhancement in the event of tenant default resulting in vacant possession. 

Guide price reflects net initial yield of 3.57% after 5.25% allowance for purchaser's costs. 

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