1 Bedroom Studio Flat for sale
Bedford Street Belfast BT2.
The George Best Hotel
- Asking Price:
This hotel room is a great investment opportunity currently under construction and will be situated on the 4th floor of the development.
George Best Hotel explained:
The developer has purchased 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 to investors as a property investment opportunity.
Each investor 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 as follows:
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.
Nestled on the junction of Donegall Square and Bedford Street, The George Best Hotel is set to be nothing short of remarkable. This grandiose hotel is in a prime city centre location overlooking Belfast City Hall and will pay tribute to one of the greatest footballers of our time.
Originally named the Scottish Temperance Building before later changing to the Scottish Mutual Assurance Society Building, this beautiful Grade B1 listed building will become the focal point of the centre of Belfast.
Built by Henry Seaver and completed in 1904, the redevelopment will incorporate and preserve much of the buildings history whilst aligning it with Signature Living’s unique vision and guest experience. Having previously served as offices, this building will be transformed into a luxury football-themed hotel featuring premium amenities, a stunning wedding and events space, a museum dedicated to the legacy of George Best, plus a stylish bar and restaurant.
The classic Baronial style architecture will retain many of its original features across all six floors, making it the perfect heritage redevelopment for investment.
Why invest in Belfast:
Belfast has undergone a resurgence in tourism over the past decade and last year the city was crowned Best UK City. With 1.4 million visits which contribute over £278 million to the economy and support 17,000 jobs, Belfast’s growth is only just beginning.
Belfast is the driving force behind Northern Ireland’s economy and is a hub for not only international visitors but also domestic. The city which has an eclectic vibe, with a plethora of restaurants, bars, attractions and landmarks to explore.
The local council has outlined plans to increase the cities growth 100% by 2021, which will be achieved by improving transport links, more events and refining visitor experience.
This growth has been recognised by many key companies across a broad range of sectors including accommodation, food & beverage and entertainment. There are currently 27 new hotel developments in the pipeline for Belfast, bringing 3,747 additional bedrooms to the city. This highlights the elevated interest in Belfast and the expected growth over the next couple of years, making now the perfect time to invest in the city
- Property Age: 2 years
- Council tax band: A (£10.00 Per Annum)
- 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.