Freehold interest acquired in 99 King Street, Maidenhead for £11.43m
DTZ Investors have acquired the freehold interest in 99 King Street, Maidenhead for £11.43m reflecting an initial yield of 5.03%.
This hotel and retail investment is prominently situated at the corner of King Street and Bell Street, directly opposite the railway station, within the town’s main commercial hub. In the short term, this location is set to benefit from enormous infrastructure improvements through the delivery of Crossrail, redevelopment of the train station and The Landings development.
The building was constructed in 2010 and comprises a 96 bedroom Travelodge hotel over first to fifth floors and two retail units at ground floor level (Sainsbury’s and Countrywide Estate Agents) totalling 37,580 sq ft. The average weighted unexpired lease term (to break) is approximately 19.5 years.
DTZ Investors were represented by Lewis Ellis and NJBHLP, with JLL acting for the vendor.