Moxy And Residence Inn By Marriott Slough, 3-5 Wil, Slough, SL1 1GZ

Opened in February 2021, the dual brand Moxy and Residence Inn by Marriott hotel is a contemporary purpose-built property in the centre of Slough on the outskirts of London with excellent transport links. The hotels are well placed to benefit from a town that is undergoing a substantial period of rejuvenation and renewal.

With two distinct brands in one building, the hotels attract a wide range of guests across several markets from tourists to corporate extended stays. Separate entrances for each hotel help to create independent cultivated guest experiences. The Moxy has a large, communal open space with a stylish 135 cover bar and restaurant on the ground floor, along with space to work or relax in the library. The top floor of the Residence Inn by Marriott aparthotel provides its own reception, bar and restaurant for guests as well as eight flexible meeting rooms. The two hotels share a ground floor gym (59 sqm) which can be accessed via separate doors from either hotel.

This is an excellent opportunity to acquire the best performing hotels in the centre of Slough, with further growth to stabilisation. As well as having the opportunity to grow the business with the regeneration of Slough and capitalise on further corporate and residential occupation in the town centre.

The properties are being operated by Cycas Hospitality by virtue of a 25 year lease from February 2021 with a Base Rent of £1,447,480 plus a turnover element. Base rent increases annually at 70% of CPI subject to a cap of 4%.

Offers are sought in the region of £25,900,000 (Twenty Five Million, Nine Hundred Thousand Pounds), which reflects a blended yield of 7.28% (applying forecasted turnover 2023/24), subject to contract and exclusive of VAT assuming purchasers' costs of 6.80%.

Underpinned by VP value.



Location Highlights



Located on William St, the hotel is situated in the centre of Slough. The property has strong connectivity thanks to its centrality, situated a 5 minute walk from the train station. This provides direct access to Reading (12 mins), London Paddington (27 mins) and Central London (Bond St: 43 mins). The hotel is a 10 minute drive from the M4, providing quick access to the M25, and the M40 is 20 minutes north of the Property. Off-site car park is within a 5 minute walk, providing 95 spaces. This connectivity is crucial, given Slough's business and leisure demand factors thanks to its location in between London and Reading.





Specification



For specification details, please speak to one of our agents.



EPC



B (30)



Viewing



Viewing available on request

Key Features

- Rare investment opportunity to acquire two Marriott branded hotels in the same property.

- 10 storey building located in the centre of Slough.

- 152 bedroom Moxy brand Hotel with a 135 cover bar and restaurant.

- 92 bedroom Residence Inn by Marriott brand Aparthotel with a 125 cover bar and restaurant.

- Freehold.

- Overriding occupational 25-year lease of whole building with Slough Old Library Hotels Limited (Cycas Hospitality) with 22.9 years unexpired.

- 5 minute walk to Slough Station, providing direct access to Reading, Paddington and Central London on the Elizabeth Line.

- EPC rating: B(30).


( Agency Pilot Software ref: 112963 )