Exeter based commercial property agency and consultancy Turner Locker Barnfield, acting on behalf of a private investor, has purchased the long leasehold interest in the Travelodge at Hilsea, Portsmouth. The asking price was £1.638m.
The property is let to Travelodge Hotels Ltd on FRI terms for 25 years, from August 2010, at a rent of £104,000 pa. There are five yearly upward only rent reviews fixed upon RPI. Philips Lockhart Starr acted for the vendor.
Turner Locker Barnfield offers offices, shops, industrial units, warehouses and car parking spaces in Exeter, Devon and throughout the South-West.
They also provide full commercial property management services including rent collection, maintenance and other related matters.
The company was formed in 2006 when Turner Locker was merged with Barnfield Commercial. Prior to the merger both firms had been providing services in the South-West property market since the early 1990s, guaranteeing extensive local knowledge.
Story: Neil Bird
Photo: Turner Locker
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