Aprirose acquires Travelodge in Whetstone, London
Aprirose, the real estate investment company, has acquired the freehold of an asset in Whetstone for an undisclosed price. The property is let to Travelodge with 18 years remaining on the lease.
Located in Whetstone, an affluent London suburb situated in the London Borough of Barnet, the asset is positioned just 800 metres from Totteridge & Whetstone London Underground Station, providing easy access to Central London and the City.
Situated on a 0.56-acre site, the asset comprises a total of 39,320 sq ft GIA, with a 96-room hotel over three floors and a 9,353 sq ft retail unit over part ground and part mezzanine floors. The hotel was funded and built by Aviva Investors Pensions Limited in 2010 and fitted to Travelodge’s specification. The retail unit is leased to Halfords on an FRI lease with 7.5 years remaining.
We are excited about acquiring an inflation linked, strong performing asset in an affluent area within Greater London at an attractive capital value. This acquisition demonstrates our ability to take views and be nimble in a volatile macro environment. Meenal Devani, Managing Director and CIO, Aprirose
Aprirose’s dedicated platform for owned and operated hotels continues to go from strength to strength, with the team currently managing 65 properties within its portfolio. This includes several high-profile brands including Delta Hotels by Marriott, Double Tree by Hilton and the Qhotels portfolio, which comprises 20 market-leading country house, hotel and spa assets.
Aprirose was advised by Lewis Ellis.
For 30 years, Aprirose, the London based real estate investment company, has been delivering consistently high returns across a variety of different sectors and geographic markets. The company has a diverse and is managed by a senior, multidisciplinary team. The team has a wealth of experience and knowledge of the cyclical property market and are uniquely positioned to act on areas where they identify potential and advantage. www.aprirose.com.