Lothbury picks up Edinburgh hotel

摘要

Lothbury Property Trust has bought a Travelodge hotel at Cameron Toll in south Edinburgh for £13,7m. The 115-bed hotel, located two miles from the city centre, is let on a 27-year Retail Price Index (RPI) lease, which is up for review next year, Following the review, the purchase price will reflect a yield of 4.5%. "This investment represents excellent long-term income for the fund with a lease running until 2045," said Mike Toft, a senior fund manager and executive director at Lothbury Investment Management.