HOTEL | PORTFOLIO INVESTMENT OPPORTUNITY

The George Hotel, 14-16 King Street, Reading, RG1 2HD

THE OPPORTUNITY

  • Freehold and prime town centre real estate portfolio and / or hotel
  • 76 bedroom 4* hotel
  • Adjacent to The Oracle shopping centre and within walking distance of the £950m redeveloped train station and Hexagon Theatre.
  • Overlooking The Oracle Riverside
  • Development options
  • Existing leases to Prezzo, Mothercare and Workhouse Coffee
  • Option to lease to Hotel at c.£200,000 pax on a new 25 year unbroken term
  • EBITDA c.£1.2m including retail and leisure rentals (part of the freehold)
  • AWULT 20 years
  • Investment income £602,000 (portfolio)
  • Plans and tenancy schedule available on request
  • Refurbished Hotel (parts date back to 1423)
  • £12,950,000 producing 4.4% NIY on sale and leaseback to the hotel
  • Viewing strictly by appointment only
  • OIEO £16,000,000 for the going concern
  • Management options considered on merit
  • KEY POINTS

    ONE

    Prime central hotel and retail portfolio in enviable location.

    TWO

    4* 76-bedroom hotel with additional income from retail properties.



    THREE

    EBITDA c.£1.2m. Consistent revenue with potential to develop further.

    FOUR

    Sale and leaseback to hotel considered along with potential management option.


    Pricing

    The George Hotel, Reading


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    About

    MBI Surveyors are RICS Regulated and have signed the Conflict Avoidance Pledge with the RICS. MBI therefore act with the upmost integrity in handling all instructions in a transparent manner and to proactively avoid conflict. The value of collaborative working with a commitment to resolving any issues early. As such, parties are requested to provide full details upon submission of any offer so that relevant checks can be made, followed by full heads of terms in draft for all parties to consider in their own time and with professional advice as required. 

    Floor plans and technical information is available on request to fully disclosed parties and are to be held and treated in strict confidence. 

    The Money Laundering Regulations 2003 require estate agents and solicitors to formally identify parties to a transaction. Interested parties will therefore be required to provide proof of identity. MBI (Surveyors) Limited for themselves and for the vendors or lessors of this property whose agents they are, give notice that: i) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute (nor in part of) an offer or contract; ii) all descriptions, dimensions, reference to condition, permissions for use / occupation and other details are given in good faith and believed to be correct - not to be relied upon as statements of fact and should be inspected by themselves; iii) no person in the employment of MBI has any authority to make or give any representation or warranty whatsoever in relation to this property. 

    Contact Us

    Matt Brooks
    Managing Director

    Phone: 01235 828239

    Email: mattbrooks@mbiproperty.co.uk

    Website: mbiproperty.co.uk