On Air Now Carl Ward 10:00am - 2:00pm
Now Playing Sophie Ellis-Bextor Take Me Home

Lease of Guernsey's Premier Inn for sale

The marketing agent says it achieves £753,000 rent each year and is promoted as a 20 year investment opportunity.

The Premier Inn at Admiral Park was built in 2021, opened the next year, and has 100 en suite bedrooms and 120 car parking spaces plus motorbike and e-bike racks.

It is Guernsey's only Premier Inn and is wholly owned by the Whitbread Group which wholly owns Premier Inn.

Agents Watts and Co say it is an opportunity to buy the remaining 20.75 year lease on Guernsey's newest purpose built hotel.

It is being sold with certain insurance cover and construction warranties.

Watts say a reasonable offer for the near 21 year lease that remains would be in the region of £16M and say it could appeal to a Collective Investment Scheme, among others.

Rent is reviewed every five years with the next due within the year. There is an option to extend the lease by five years. 

It is unclear if this means that Premier Inn will stay in Guernsey and Island FM has approached the hotel group for comment.

More from Guernsey News

Comments

Add a comment

Log in to the club to add your comment.

Island FM VIP

Get more with the Island FM VIP!

Just Played Songs