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Property Information
| Type: |
Studio |
|
Property ID: |
28215387 |
| Location: |
Scarborough, United Kingdom |
|
Added on: |
09 May 2024 |
| Price: |
£65,000 |
|
|
|
Short Description
The Harland Hotel is a majestic hotel situated in an outstanding location in one of the UK’s most iconic seaside resorts with a commanding position overlooking Scarborough and South Bay. Now available for investment, the Harland Hotel offers an exceptiona
The Harland Hotel is a majestic hotel situated in an outstanding location in one of the UK’s most iconic seaside resorts with a commanding position overlooking Scarborough and South Bay. Now available for investment, the Harland Hotel offers an exceptional opportunity for investors to purchase a room which will provide you with a 10% net rental return for 10 years along with a defined exit strategy.
With 74 en-suite rooms, many enjoying breath-taking views across South Bay, this imposing hotel will shortly undergo a rolling schedule of renovation over a three year period that will be sympathetic to the architectural beauty of the building. The sensitive refurbishment will maintain the look and feel of the hotel, respecting its heritage. Additions will include its own up-market coffee house, spacious restaurant and relaxing bar area. In addition the hotel’s existing function rooms will be updated to complement the grandeur of this impressive building.
Delivered by a proven developer, the Harland Hotel will offer luxurious accommodation and will be fully managed by an experienced hotel operator; ensuring investors needn’t lift a finger to earn their returns. The developers have an excellent track record of delivering this type of development, having already completed a number of similar properties across the UK. As such, demand for The Harland Hotel is high and reserving a unit as soon as possible is recommended.
Investment Highlights:
• Robust long established hotel business with rental income from year 1.
• Single, Double, Family rooms and Suites available for investment.
• Fine Grade 2 listed building constructed in the 1830’s.
• Commanding position above the cliffs overlooking Scarborough, the favoured South Bay and the harbour.
• 10% NET returns for 10 years.
• 125% buy back options from year 10.
• Further 5 year extension at year 10 and buy back at year 15 at 137%
• 125 year leasehold with title
• A hands-off property, fully managed by a highly experienced hotel operator.
• Spa, hotel, restaurant and bar.
• Rolling schedule of renovation over a three year period that will be sympathetic to the architectural beauty of the building
• Reserve for £;1,000.