4. 1 Bedroom Property for sale in Durham, DH6

1 Bedroom Property for sale in Durham, DH6

Hallgarth Manor Farm, High Pittington, Durham, DH6

£75,000

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Agent details

This property is listed with:
Property Webwise Ltd
290 Elgin Avenue, London
Telephone:
020 7121 8000

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Full Details for 1 Bedroom Property for sale in Durham, DH6 :

We are delighted to offer you a rare opportunity to generate a secure 5-year  fixed return via the purchase of a hotel room asset in this boutique 16th century  Manor House Hotel. Leasehold owners of the hotel rooms shall benefit from a fixed income stream equal to 8% net of their purchase price. Income will be paid monthly in arrears as a net figure, no additional costs or fees shall be placed on the leaseholders. The ownership model has been engineered to provide a clear exit strategy at the end of year 5 via a developer buy back equal to 115% of the original purchase price

The Manor House at Hallgarth is a 24-bedroom Hotel situated just over 3 miles from the historic city of Durham in the North East of England.  Renowned for excellent food, comfort, friendliness and value for money, Hallgarth has a relaxed home-from-home atmosphere making this the perfect location for any event.

INVESTMENT HIGHLIGHTS

• £75,000 per room

• 8% net rental return per annum

• 115% buyback at the end of year 5 -  Income paid monthly

• Hands-off investment

• Zero ownership fees

• Successful business with established customer base

• Acclaimed riverside restaurant

• Local wedding venue

F A Q\‘S:

Is the hotel open?  Yes, the hotel is trading and operational as listed on The Manor House at Hallgarth website.  You can also view the hotel via the numerous internet hotel booking sites.

Am I buying a Freehold or Leasehold?  You are buying a 125 year leasehold, with the room being registered in your name at the UK Land Registry.

Is the rent return and buyback guaranteed?  Yes, the rent returns and buyback are contractually guaranteed.

Is the sale handled by a solicitor?  Yes, we have an experienced nominated solicitor in place who will advise and act for you throughout your purchase.

Can I resell my hotel room?  Yes, you can sell at any given time.

Can I rent my hotel room out myself?  No, your room is leased back to the hotel management company who control the day to day activities.

Are there any additional costs to the Investment?  The only additional cost involved will be the buyer solicitor fees.

Can I view the properties?  Yes, we can arrange for you to visit the hotel.

What are my returns?  All units receive the same level of return which is equal to 8% of the purchase price. Please see the table earlier in this brochure under Financial Analysis.

Is there a due diligence pack available?  Yes, a full due diligence pack will be made available upon reservation which includes details on the purchase contracts, management agreement and land registry title.

How do I reserve a Unit?  All units are subject to availability, if you would like to reserve a unit we require a reservation deposit of £2,500 along with a signed reservation agreement which we will forward to you.


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