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Alpha Real Trust Ltd - Guernsey-based property-finance investor - Acquires 64-bedroom hotel and pub in Birmingham, England for £5.1 million including acquisition costs. The property is leased to Travelodge Hotels Ltd, a UK-focused hotel brand and is let until November 2060 with a tenant-only break option in 2035. Under the lease, the tenant is responsible for building maintenance and the rent has inflation-linked adjustments, reflecting an initial yield of 8.3% per year. ‘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,’ ART says. Current stock price: 120.00 pence 12-month change: down 21% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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