REG - Alpha Real Tst Ltd - Acquisition of TravelLodge Hotel, Lowestoft, UK

Alpha Real TrustAnnouncement

13/06/2022 09:45

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RNS Number : 6260O  Alpha Real Trust Limited  13 June 2022

13 June 2022

LEI: 213800BMY95CP6CYXK69

 

ALPHA REAL TRUST LIMITED ("ART" OR THE "COMPANY")

acquisItion of a TRAVELODGE HOTEL IN LOWESTOFT, UNITED KINGDOM

 

ART announces it has acquired a hotel in Lowestoft, United Kingdom for £3.1
million including acquisition costs.

The property is leased to Travelodge Hotels Limited,  the United Kingdom's
largest independent hotel brand with more than 590 hotels. The hotel has an 18
year unexpired lease term. Under the lease, the tenant is responsible for
building maintenance and the passing rent of £0.2m p.a. has inflation linked
adjustments, reflecting a yield of 6.2% p.a.

ART has acquired the asset for cash.

The 47-bedroom property is held freehold and occupies a site of 1.08 acres in
Lowestoft, a well-established and well connected area located in close
proximity to the A47 which runs to Norwich.

 

Investment rationale

This acquisition offers the Company the potential to benefit from a long term,
predictable, inflation-linked income stream whilst contributing additional
diversification to ART's portfolio. In addition, the investment offers the
potential for associated capital growth.

 

 

For further information please contact:

Alpha Real Trust Limited

William Simpson, Chairman, Alpha Real Trust
  +44 (0) 1481 231 100

Brad Bauman, Joint Fund Manager, Alpha Real Trust              +44 (0)
20 7391 4700

Panmure Gordon, Broker to the Company

Atholl Tweedie
 
+44 (0) 20 7886 2500

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