Forget homes - buy a hotel room
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- Published:Tuesday, January 31st, 2006
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170 rooms in London’s latest investment property have gone on sale.
The rooms are offered on a buy to let basis - but have one catch - they’re part of a hotel.
The rooms in the new Nest Hotel in Paddington (one of 5 hotels) have a starting price £175,000 and room owners can stay in their room for free for 52 nights a year as well as get a 50% share in the income generated from hotel guests staying in their room.
GuestInvest, the company behind the scheme are offering this towards those who want a convenient buy to let investment.
The company expects to offer the rooms for £118 a night (£59 to the room owner).
Investors who buy more than one room from the five GuestInvest hotels offered will be given a discount (5 per cent for those who buy a room in each hotel), and Johnny Sandelson, founder of GuestInvest, has said that should benefit from capital growth as well.
GuestInvest has a predicted that 70% of the rooms in the hotel will be occupied during the year. Buyers will be offered the rooms on a lease for 99 years.
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