Flat for sale in Darlington, DL2
Piercebridge, Darlington, DL2£60,000
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Full Details for Flat for sale in Darlington, DL2 :
A rare opportunity to generate a secure 5 year fixed return via the purchase of a hotel room asset in a boutique 18th century traditional coaching inn.
Leasehold owners of the rooms will 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 and there is the added benefit of a clear exit strategy at the end of year 5 via a developer buy-back equal to 115% of the original purchase price.
The George Hotel is a boutique traditional coaching inn with 32 bedrooms, bar, restaurant and function rooms including a wonderful ballroom. It is on the bank of the River Tees in the village of Piercebridge near Darlington and several of the bedrooms and function rooms have views of the river. There are open fireplaces in the bar inside the centuries-old building, an all-day menu in the snug bar and a delicious menu in the Riverside Restaurant. The rural retreat offers tranquillity and history as it is said to be the place in the 1880s that Henry Clay Work wrote the song about the Grandfather clock which is situated in the hotel.
Hotel room investments are one of the newest and hottest products on the global property market, you invest in a room (or rooms) and sit back and collect the income. Normally when you read things like that it is too good to be true, but not in this. The room becomes part of the hotel stock, it is serviced and managed as part of the hotel. Depending on the term of the investment there are usually incremental refurbishments, again, this is simply because the room is taken care of with the rest of the hotel. You even get some free usage thrown in.
FREQUENTLY ASKED QUESTIONS
Is the hotel open? Yes, the hotel is trading and operational as listed on the Best Western website.
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 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 re-sell 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.
What are the ongoing costs? There are no ongoing costs after completion.
Can I view the properties? Yes, we can arrange for you to visit the hotel.
What are my returns? All units receive the same return which is equal to 8% of the purchase price.
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.
Leasehold owners of the rooms will 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 and there is the added benefit of a clear exit strategy at the end of year 5 via a developer buy-back equal to 115% of the original purchase price.
The George Hotel is a boutique traditional coaching inn with 32 bedrooms, bar, restaurant and function rooms including a wonderful ballroom. It is on the bank of the River Tees in the village of Piercebridge near Darlington and several of the bedrooms and function rooms have views of the river. There are open fireplaces in the bar inside the centuries-old building, an all-day menu in the snug bar and a delicious menu in the Riverside Restaurant. The rural retreat offers tranquillity and history as it is said to be the place in the 1880s that Henry Clay Work wrote the song about the Grandfather clock which is situated in the hotel.
Hotel room investments are one of the newest and hottest products on the global property market, you invest in a room (or rooms) and sit back and collect the income. Normally when you read things like that it is too good to be true, but not in this. The room becomes part of the hotel stock, it is serviced and managed as part of the hotel. Depending on the term of the investment there are usually incremental refurbishments, again, this is simply because the room is taken care of with the rest of the hotel. You even get some free usage thrown in.
FREQUENTLY ASKED QUESTIONS
Is the hotel open? Yes, the hotel is trading and operational as listed on the Best Western website.
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 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 re-sell 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.
What are the ongoing costs? There are no ongoing costs after completion.
Can I view the properties? Yes, we can arrange for you to visit the hotel.
What are my returns? All units receive the same return which is equal to 8% of the purchase price.
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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