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Alpha Real Trust Ltd - Guernsey-based property finance investor - Buys a hotel in Lowestoft, Suffolk for £3.1 million. The property is leased to TraveLodge Hotels Ltd with an 18 year unexpired lease term. It has 47 bedrooms and 1.08 acres. ‘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,’ the company notes.
Earlier in June, the company said it was in ‘robust’ financial position as profit for the most recent year surged to £8.5 million from £96,000 a year ago. Net asset value stood at 216.0p per share as at March 31, compared to 207.7p on the same date a year ago.
Current stock change: untraded at 143.00 pence
12-month change: down 12%
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