Aprirose has acquired the freehold of a Travelodge in Whetstone, Barnet, from Aviva Investors, for £10.63m.
The 39,320 sq ft 96-room hotel, which is let to Travelodge with 18 years remaining on the lease, was funded and built by Aviva Investors Pensions and is located 800m from Totteridge & Whetstone London underground station.
The site also includes a 9,353 sq ft retail unit let to Halfords on an FRI lease with 7.5 years remaining.
Meenal Devani, managing director and CIO of 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.”
Aprirose was advised by Lewis Ellis.
