1 Bedroom Studio Flat for sale
Bedford Street Belfast BT2.
Guide Price £98,800
The George Best Hotel
- Asking Price:
We are purchasing the Scottish Mutual building in Donegal Square, Belfast on a 999 year leasehold basis and redeveloping it into The George Best Hotel providing luxury group accommodation. We are then selling each unit(the units within our hotels are similar to those found in aparthotels: self-contained with kitchenettes etc.) to our investors as a property investment opportunity.
Our investors will own the title deeds and ownership will be updated at the Land Registry. Following this our investors will sign another agreement allowing Signature Living Hotels Ltd to use to utilise their new property as a room within the hotel. Needless to say this means we are responsible for the maintenance of the property and ensure that it remains occupied
The returns for this investment are 8% net per annum for years 1-3, 9% net for year 4 and 10% net per annum for years 5-10. There is a buyback option from year three onwards that begins with a 6% uplift on the original purchase price, increasing by 2% each year, capped at 12% uplift. All returns are contractually guaranteed and paid quarterly. The great thing about this opportunity aside from the returns is it’s built in exit strategy.
- Property Age: 2 years
- Council tax band: A (£1.00 Per Month)
- Double Glazing: Throughout
- Heating: gas
Local Area (within 1 kilometre)
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Based on 1% average high street estate agency fee and our No Sale No Fee package value. figures correct as of 20/09/17.