Purchased on 01/02/2020
£8,950,000 (Subject to Contract and Exclusive VAT)
Barking is a town located within the London Borough of Barking and Dagenham. It is located 3.4 miles east of Stratford, 4.5 miles east of Canary Wharf and 8.8 miles east of Charing Cross.
The town is situated north of the A13 road and east of the River Roding near its confluence with the River Thames in east London. The South Woodford to Barking Relief Road (part of the A406 North Circular Road) runs through the Roding Valley, and access to the town centre is by its junction with the A124.
The hotel was purpose built in 2008 and is fitted to Travelodge’s latest specifications. The building is of reinforced concrete frame construction with three elevations having very distinctive multi coloured cladding, which has also been used on other buildings in the Barking Central development.
The property has two retail units on the ground floor. The first unit comprises 4,389 sq ft and is let to Tesco Stores Ltd and the second unit is 1,283 sq ft and is let to Explore Learning Ltd.
£461,602.00 per annum exclusive
Travelodge, Tesco, Explore Learning
4.85% Net Initial Yield
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