Holiday Inn Express London Stansted Airport

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1 Holiday Inn Express London Stansted Airport christiecorporate.com

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3 An opportunity to acquire this award winning Holiday Inn Express with close links to London Stansted Airport. This 254-bedroom hotel was purpose-built in 2005 and subsequently extended in Located less than a mile from the passenger terminal of London Stansted Airport, the hotel benefits from an ideal location with strong transient business. As the UK s fourth busiest airport, London Stansted currently handles upwards of 22 million passengers per annum, up 15% from The hotel is offered for sale with the benefit of Holiday Inn Express branding and is available with or without the hotel operating agreement with Kew Green Hotels. Long Leasehold - Offers in excess of 16,000,000 Christie + Co Sales Memorandum December

4 Investment Highlights Currently one of Europe s largest Holiday Inn Express s with 254 comfort cooled bedrooms Modern purpose-built hotel, operated under Licence from IHG for the Holiday Inn Express Brand Reception, lounge, bar, restaurant 5 meeting rooms and conference facilities with capacity for up to 100 delegates Residents gym High profile strategic location close to the A120, M11 and M25 motorways, all with good connections into central London On site car parking for 184 vehicles Long Leasehold (125 years ground lease expiring 2129)

5 A Flagship Hotel In 2006 the business was awarded the accolade of Intercontinental Hotel s Newcomer of the Year for Europe, the Middle East and Africa (EMEA), a testament to the hotel s high standards. Furthermore, in 2007 the hotel was awarded IHG s EMEA Hotel of the Year Holiday Inn Express by IHG is one of the world s leading limitedservice franchise brands and is widely considered to be the UK s market leader in the sector Christie + Co Sales Memorandum December

6 London Stansted Airport Flying to over 170 destinations in 37 countries via 15 carriers, London Stansted Airport is the fourth busiest airport in the U.K. Last twelve months rolling annual total passenger figures (October 2015) reached 22,313,000 up 15.0% from These figures demonstrate the ever growing demand for the airport, serving over 2 million passengers each month for last six consecutive months. Forecasts for 2016 also show further growth in passenger numbers. Following the acquisition of London Stansted Airport in 2013 by The Manchester Airports Group Plc (M.A.G), its rapid successive growth has allowed for further investment in the terminal infrastructure. With new routes to Europe also being added, the airport is well positioned to build upon its already solid business base. The return of longhaul services in July 2015 with destinations such as Orlando, Las Vegas and Cancun has also contributed to the financial success of the airport with EBITDA up 25.6m to 114.5m (+28.8%) on New flights have generated around 3m extra passenger numbers in the last 12 months. The airport also benefits from approximately 25,000 parking spaces and is highly accessible from the M11 and M25 motorways. Dedicated Stansted Express railway and coach services provide fast and affordable access to central London. A Strategic Airport Location The Holiday Inn Express London Stansted Airport occupies a highly strategic location less than 1 mile from the passenger terminal at Stansted. The airport also benefits from excellent road transport links. It is located directly off the A120, which is accessed from the M11 (Junction 8A). There is a regular dedicated Stansted Express rail service from the airport, with trains departing every 15 minutes and a travel time of approximately 45 minutes. The service offers a direct link to London s Liverpool Street Station in the financial heart of the City of London. The M11 provides easy access to the M25 at Junction 27 which is approximately 18 miles from the hotel. The northbound M11 provides access to Cambridge (approximately 30 miles from the hotel), the Midlands and East Anglia.

7 CAMBRIDGE M11 TERMINAL HARLOW M11 LONDON STANSTED AIRPORT STEVENAGE BISHOP S STORTFORD A120 A120 HOLIDAY INN EXPRESS LONDON STANSTED AIRPORT HOTEL A1(M) A10 HOLIDAY INN EXPRESS LONDON STANSTED AIRPORT HOTEL M1 A414 HATFIELD HARLOW A414 M25 ENFIELD M11 A12 LONDON A406 A127 Christie + Co Sales Memorandum December

8 Christie + Co Sales Memorandum December

9 Description Originally built in 2005 the hotel benefited from a 71 bedroom extension in 2007 in response to the level of demand. The building is of modern construction, with cladding to the principal elevations and double glazed windows. The front access is fully glazed and leads into the main reception area and the Great Room. The Great Room provides extensive, open plan ground floor public areas and access to the conference facilities. Public areas benefit from air conditioning. The letting accommodation is provided over the ground and three upper floors. Accommodation ENTRANCE LOBBY The open plan ground floor public areas include reception, bar servery, lounge areas (80), Rotisserie restaurant (104 covers), breakfast and food servery, vending area, internet stations and pool table. CONFERENCE AND MEETING FACILITIES Room Name Classroom Boardroom Theatre U-shape Reception Beacon 1-6m x 3.1m 10 Beacon 2-6m x 3.1m 10 Beacon 3-6m x 3.1m 10 Vector 1-6m x 6.4m Vector 2-6.4m x 12.8m Residents Gym Christie + Co Sales Memorandum December

10 LETTING ACCOMODATION 254 en suite bedrooms configured as follows 125 Doubles, with additional sofa bed 48 Doubles 68 Twins 7 Accessible Doubles 6 Accessible Twins All 254 bedrooms are comfort cooled. Facilities include an en suite shower room and partitioned WC; hospitality tray; hairdryer; work desk with direct dial telephone and high speed broadband internet access; colour television with satellite channels. ANCILLARY AREAS Ladies, gentlemen and accessible Toilet facilities. Kitchen and stores. Administration and support offices. OUTSIDE Barrier controlled dedicated Car Park for 184 vehicles. Decking area alongside the restaurant providing seating for approximately 60. Christie + Co Sales Memorandum December

11 *Each meeting benefits from air-conditioning and natural daylight

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13 Tenure The hotel is held under a 125-year lease commencing January The rent is calculated as a proportion of bedroom and additional revenues, subject to guaranteed minimum rents. Further detailed information will be made available upon completion of a Confidentiality Agreement. Branding and Management The Hotel currently operates under a franchise agreement for the Holiday Inn Express brand. Details of the franchise terms will be made available on the completion of the Confidentiality Agreement. Holiday Inn Express is one of the world s leading limited-service hotel brands. Over 2,406 hotels are franchised under the brand globally with 227 hotels and 27,445 bedrooms in Europe alone, with a further 41 hotels in the pipeline highlighted another strong performance across the Holiday Inn Express brand with average occupancy increasing by 2.5%, average daily rate increasing by 2.3% and consolidated RevPar up 6.1%, an additional reflection of the consistent strength that the brand provides to its hotels KPI s. (Source: development.ihg.com/europe/) Kew Green Hotels is the joint owner and operator of the Holiday Inn Express London Stansted. Kew Green Hotels operates hotels across the UK under a variety of major brands including Holiday Inn, Holiday Inn Express and Crowne Plaza and are one of IHG s larger franchise partners in Europe, with over 50 hotels. The management team has extensive experience in the hospitality sector. They currently operate hotels under a mixture of franchise agreements and management contracts. Christie + Co Sales Memorandum December

14 The Business EPC The hotel benefits from strong Air Crew business and commercial custom generated by the airport and its associated industries as well as transient and leisure guests flying in and out of the airport. Detailed trading information is available upon completion of a Confidentiality Agreement. Price and transaction structure Offers are invited in excess of 16,000,000 by means of a sale of the share capital in the owning SPV company, Kew Green VCT (Stansted) Limited. Contact Details Jeremy Jones, Director T: M: E: jeremy.jones@christie.com Jonathan Parrish, Director T: M: E: jonathan.parrish@christie.com CONDITIONS OF CHRISTIE + CO S INFORMATION These sales particulars are prepared as a general guide to the property (which expression includes business and trade content, if any, included in the sale) for the convenience of a prospective purchaser (an Acquirer ) and are intended for business people familiar with commercial transactions. If you are not sure that you fit this description you should take relevant independent advice before proceeding further. Christie + Co for themselves and for the Client, give notice that: (a) these particulars are made without responsibility on the part of Christie + Co or the Client; they do not obviate the need to make appropriate searches, enquiries and inspections, nor do they constitute any part of an offer or contract, and statements herein are not to be relied upon as statements or representations of fact; any Acquirer must satisfy himself, by inspection or otherwise, as to their correctness and any error, omission or mis-description therein shall not affect or annul the sale or be grounds for rescission or compensation; (b) the Client does not make or give, and neither Christie + Co nor any of their employees has any authority to make or give, any representation or warranty whatsoever in relation to the property; (c) Christie + Co has not carried out a detailed survey, nor tested the services, appliances and specific fittings; (d) dimensions (where given) are approximate and should be verified by an Acquirer; and (e) any accounts or financial statements or registration information provided to an Acquirer are provided on behalf of the Client by Christie + Co, who cannot therefore offer any guarantee of their completeness or accuracy, and accordingly shall not be liable for any loss, damage, cost, expenses or other claims for compensation arising from inaccuracies or omissions therein. These details were believed to be correct at the date of publication but their accuracy is not guaranteed. Subject to contract. Copyright Reserved Christie + Co. December christiecorporate.com