- Dover is home to the iconic White Cliffs and is a vital gateway to Europe serving as one of Northern Europe’s busiest cruise and freight hubs, handling 2.2 million freight vehicles and £144 billion of goods per year.
- The property occupies a prime position on Marine Parade in the heart of Dover’s Marina, between the Dover Cargo and Cruise Terminals and The Port of Dover, and is just moments from Dover Castle.
- Purpose-built 126-bed hotel constructed in 2002 with a modern extension added in 2019.
- Let on a FRI lease to Premier Inn Hotels Ltd, guaranteed by Whitbread PLC, until 26th March 2044 providing an unexpired term certain of 18.1 years to expiry and 13.1 years to break.
- Current passing rent is £871,891 per annum reflecting a low room rate of £6,920 per room.
- 5-yearly rent reviews linked to CPI (0% collar and 4% cap) compounded annually with the next rent review on the 27th March 2029.
- The rent is forecast to increase to £974,669 per annum.
- Premier Inn is the largest UK hotel brand and achieved over £1.3 billion in revenue in 2024/25. It has a D&B rating of 5A1.
- EPC B (45), expiry May 2034.
- Freehold.
We are inviting offers in excess of £13,600,000 subject to contract and exclusive of VAT.
A purchase at this level will reflect a Net Initial Yield of 6.01% and a Reversionary Yield of 6.72% in 2029. The property has a capital value of £108,000 per room after allowing for purchaser costs of 6.72%.
