Aprirose acquires Travelodge in north London

Aprirose has acquired the freehold of the Travelodge in Whetstone, in the London Borough of Barnet.

Located at 1446 High Road, the asset comprises a total of 39,320 sq ft GIA, with a 96-room hotel over three floors and a 9,353 sq ft retail unit.

The property is let to Travelodge with 18 years left on the lease. It was funded and built by Aviva Investors Pensions in 2010 and fitted to Travelodge’s specification. The retail unit is leased to Halfords on an FRI lease with 7.5 years remaining.

Lewis Ellis advised Aprirose in the deal.

What they said

Meenal Devani, managing director & chief investment officer at Aprirose said: “We are excited about acquiring an inflation linked, strong performing asset in an affluent area within Greater London at an attractive capital value.  This acquisition demonstrates our ability to take views and be nimble in a volatile macro environment.”