Travelodge, Kellard House, Hardwick Road, King's Lynn
68 beds
Description
• Located in West Norfolk, less than a mile south of King's Lynn town centre, the property benefits from excellent connectivity via the nearby A47 and A148, while providing convenient access to the area's historic attractions and amenities.
• The property benefits from modern construction, opening in 2017, and comprises a purpose-built, detached 68-bedroom hotel arranged over two
storeys.
• Vendor to top-up the forecasted rent at the next review of £432,465 per annum exclusive, reflecting a low rent of only £6,360 per key (vendor top-up is based on actual and the 2026 RPI Forecast).
• The lease is subject to five yearly upwards only uncapped RPI reviews. The next review will be in November 2026.
• Strong performing hotels with average market occupancy levels of 84% based on 2024 data.
• Let to Travelodge Hotels Limited providing an attractive long AWULT of 18.30 years to expiry (including the landlords option to extend for 3 years).
• EPC Ratings of B39.
• Travelodge achieved revenue exceeding £1 billion in 2025 and have a D&B rating of 5A2, representing a very low risk of business failure.
• Freehold
Offers are sought at £5,585,000 (Five Million, Five Hundred and Eighty Five Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 7.25% and a Capital Value of £82,100 per key, assuming standard purchaser's costs of 6.80%.
• The property benefits from modern construction, opening in 2017, and comprises a purpose-built, detached 68-bedroom hotel arranged over two
storeys.
• Vendor to top-up the forecasted rent at the next review of £432,465 per annum exclusive, reflecting a low rent of only £6,360 per key (vendor top-up is based on actual and the 2026 RPI Forecast).
• The lease is subject to five yearly upwards only uncapped RPI reviews. The next review will be in November 2026.
• Strong performing hotels with average market occupancy levels of 84% based on 2024 data.
• Let to Travelodge Hotels Limited providing an attractive long AWULT of 18.30 years to expiry (including the landlords option to extend for 3 years).
• EPC Ratings of B39.
• Travelodge achieved revenue exceeding £1 billion in 2025 and have a D&B rating of 5A2, representing a very low risk of business failure.
• Freehold
Offers are sought at £5,585,000 (Five Million, Five Hundred and Eighty Five Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a Net Initial Yield of 7.25% and a Capital Value of £82,100 per key, assuming standard purchaser's costs of 6.80%.
BUILDING HIGHLIGHTS
The hotel sits on Kellard Place
Good regional connectivity
Strong performing hotel
Let to Travelodge Hotels Limited
