THE Travelodge in the centre of Llandudno has gone up for sale with an asking price of £4.5million.
The 82-bedroom hotel, located on Gloddaeth Street in the heart of the resort town, opened in 2015 and has gone on the market with Savills.
Travelodge is signed up to lease the hotel until 2040 - paying £352,125 in rent a year, which equates to £4,294 per room.
Olnato Ltd pay an extra £86,625 a year to rent the retail and restaurant space, but the property is held on a long leasehold and subject to a ground rent of £111,857.
The hotel was lightly refurbished in 2019, with one ground floor retail unit, and one ground floor restaurant unit.
All bedrooms are finished to the standard Travelodge fit-out, and despite Olnato letting the ground floor space, the company are not currently in occupation, providing a potential asset management opportunity.
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