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Property in HG1, Harrogate

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Phone the Agent: 0844 815 3782

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Quote Reference: EstateMatcher EM23441

Asking Price: £ 185,000 Find a mortgage with

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Location of this Property in HG1 [map]

Area:	HG1	Street:	The Kimberley Hotel
City:	Harrogate
Tenure:	Leasehold	Property Type:	Investment
Parking:	No	Type:	n/a
Bedroom number:	1	Bathroom number:	1

Further Details of this Property in HG1

INVESTMENT: Buy a furnished hotel room. This is a great development set in Harrogate, with 12% minimum rental guaranteed for 1 year for all units, and a 50% share of the nightly room rate and 85% finance available on all units at only 7%. Management fees is �500 per annum for the first 5 years, followed by a small increase every 5 years thereafter.
We are in the exciting position of being able to offer 44 en-suite king size bedrooms, all to AA 4 Star standards.

Investors purchase an individual hotel room on a 999 year lease registered at the land registry, and enter into a co-terminus agreement with the hotel mangement company to run their room; the room rental revenue generated is shared equally between the hotel management company and the investor. The room is let out on a regular basis and the investor receives his 50% net income, every quarter, with no deductions. It is possible to sell the room at any time, and we will offer it our waiting list of buyers. Like any property, it can be left in a will and the income and benefits continue to whoever inherits it.

Investment this way is easy and hassle free. You will not need to furnish, insure it, find a tenant or even employ a third party management firm to look after it. On top of this, you will also not need to worry about council tax, electricity, gas bills even when it is not rented out. By purchasing a hotel room, the investor has none of these problems. The purchase price includes all high quality fixtures and fittings. There is no need to pay utility bills, tax or insurance or even a third party to manage your property.

YIELD
We have been advised that anticipated yield is expected to be in excess of 15% per annum. With the hotel being situated next door to the international conference centre, room occupancy is expected to be very high, with business visitors all year round and strong tourist demand. Our Client are happy to offer a guaranteed first year minimum yield of 12%.

These rooms will sell out each night at rates from �125 - �195. A minimum of 12% of the purchase price guaranteed as annual room income will be paid to the room owners on a quarterly basis. It will be paid within 28 days of the end of the quarter.

**FOR FULL INFORMATION & BROCHURE PLEASE CONTACT OUR OFFICE**

The Kimberley Hotel is perfectly located in Harrogate, the gateway to the Yorkshire Dales and is easily accessible by road, rail and air. Once the playground of the wealthy and now a vibrant cosmopolitan town where tempting tea rooms, beautiful gardens and of course the exotic Turkish Baths belie a magnificent selection of restaurants and bars. Located only metres from the Harrogate International Centre.

Back to the Big Map

Like this property?

Phone the Agent: 0844 815 3782

Calls cost 5p / min at all times from BT Standard landline,
other providers or mobile networks may vary

Quote Reference: EstateMatcher EM23441

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Disclaimer: The above property description was submitted to us by the estate agent marketing this property. Users are advised to confirm all details (including location) about the property when in contact with the estate agent. EstateMatcher make no warranty on the accuracy of details submitted on any property description. "We" and "Us" represents the Agent marketing the property and not EstateMatcher.

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