A private client of Knight Frank Investment Management, has bought the 52-bedroom Hereford Travelodge.
Advised by Knight Frank, it paid £2.7m- a 6.5% yield- for the lease investment.
John Styles, head of fund management at Knight Frank Investment Management, said: “The investment provides a secure long term income stream, with rental increases pegged to inflation, which meets our client’s objective of providing income and capital preservation in real terms in the long run.”
JLL represented the private UK vendor.
