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Bedford Street, BT2

2017-08-21 00:00:00
2351
Reference number: REF431915
109,200 £
Square Feet 273 Sqft
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Location details
Address
Bedford Street
Posted
Aug 21, 2017
Additional information
Reference Number
REF431915
Title
Bedford Street, Belfast BT2
Description
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 occupiedThe 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.
Square Feet
273 Sqft
  • 2351 Views
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