CBRE IM has appointed Knight Frank to market its 88-room Travelodge hotel in Birmingham, for sale for offers over £8m.
The hotel, located on Carrs Lane, reported a turnover of over £895m in 2022 and recorded a 22.4% increase in H1 2023 revenue compared to H1 2022.
It has an effective unexpired term of 22.2 years, with five-yearly uncapped RPIX rent reviews, and includes a Tesco Express on the ground floor.
It is leased to Travelodge and reflects a net initial yield of 6.4%.
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