Savills | Thistle Express Hotel, Swindon | Property for sale
Excess of £5,000,000

Thistle Express HotelSwindon

  • Virtual freehold

Key features

  • Newly created 999-year Virtual Freehold at a peppercorn rent
  • Rare long inflation linked FRI lease with 43 years and 4 months unexpired
  • Low passing rent of £170,000 per annum (£1,789 per bedroom)
  • Rent rises by 17.6% to £200,000 per annum (£2,105 per bedroom) in December 2023
  • Five yearly reviews to CPI (1% compounded per annum minimum uplifts) thereafter
  • Let to The Wiltshire Hotel (Swindon) Ltd and guaranteed by GLH Hotels Limited
  • 5A1 guarantor company with a strong net asset position of £451.8 million in 2020
  • Total GIA of 51,918 sq. ft. (4,823.5 sq. m)

Purpose built, recently refurbished hotel providing 95 bedrooms across basement, ground and eight upper floors.

About this property

  • The purpose-built 95 bedroom hotel occupies a prominent corner position on Fleming Way. The Tenant has recently undertaken an extensive refurbishment and rebranded as a Thistle Express, reopening in August 2017.

    The Hotel is arranged over basement, ground and eight upper floors (including plant room on the ninth), across a total GIA of 51,918 sq. ft. (4,823.5 sq. m). The ground floor consists of the reception area and breakfast bar, along with a small kitchen and servicing facilities, with the entrance accessed from Islington Street.

    The second through to eighth floors contain the hotel bedrooms. Various plant and storage rooms are situated in the basement and on the ninth floor. At the time of the refurbishment, all areas were refurbished with the exception of the ground and first floor bar areas, kitchen and events hall, which were left in situ.

Local information

  • The Hotel is strategically situated on a highly visible corner site in the town centre and is just 500 metres (5 minute walk) from Swindon Train Station and is in close proximity to the central businesses district which includes a number of major business such as Zurich, Aecom, Network Rail and Capita.
  • The Kimmerfields regeneration project, which is anchored by the new c.100,000 sq. ft Zurich headquarters, is located immediately opposite the hotel. Further local developments include the Fleming Way Bus Boulevard, Station Arrival, The Carriage Works, Swindon Institute of Technology, Symmetry Park and South Marston Industrial Estate.

Additional information

  • Bids are due on Tuesday 6th July at 4pm BST unless otherwise agreed prior (subject to contract).
  • The property is elected for VAT.
  • Please contact one of our agents for further information.

Energy performance

EPC C(75)