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The Star | Hotel Room Investment | Great Yarmouth | Norfolk

£44,950

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Description

The Star Hotel is a fully operational 3-star hotel which is just a 5 minutes away from Great Yarmouth train station and a 10 minute walk to the main promenade.

The developers, Merydion have decided to sell their individual hotel rooms to raise the capital required to fund a further refurbishment of the hotel as well as expand their portfolio of hotels in the future.

Rooms will be sold on 149-year leasehold basis providing full security to investors. This lease will be registered at the land registry office under the investors name. In exchange Merydion will take on full management of the hotel and pay investors an assured 10% net return paid quarterly in arrears and offer an assured buyback from year 5 onwards at 120% of the initial purchase price.

  • Classic rooms starting at £54,950

  • 10% Net return for 5 years (paid quarterly from purchase)

  • 120% buyback in year 5

  • Free Legal Fees

  • No Stamp duty

  • No ongoing ownership costs to pay

  • 2 weeks personal usage at the hotel

  • Only 41 rooms in hotel

  • £400k refurbishment recently undertaken on the hotel and a further £2000k planned

  • All investors will own a 149-year lease registered at the UK Land registry office carried out by professional solicitors

  • Hotel rated 4.6 out of 5 on Expedia and 9.2 out of 10 on Booking.com

  • Block booking agreement in place with offshore energy companies

The Star Hotel is one of Great Yarmouth’s most distinctive and historic buildings. With a story stretching back to the 17th century, the Grade II listed building has entered a new chapter following a significant and sympathetic refurbishment by its owners in Spring 2017 after being derelict for a few years. The 41- bedroom hotel close to Great Yarmouth’s historic quay and town center has two comfortable bars, a spacious restaurant, meeting rooms and superb function facilities for corporate events and stylish weddings. There’s also a lift to all floors and free on site parking for guests.

Half of the hotel rooms are already refurbished and stylishly decorated, providing a high standard of accommodation that will be appreciated by corporate guests and leisure visitors alike. There is a choice of Standard Rooms and River Rooms, the latter having views across Hall Quay and the bustling River Yare.

Location

Great Yarmouth is a thriving resort town situated on the East Coast of England in Norfolk. Over the past few centuries the town was famous for its rich heritage in fishing, however more recently Great Yarmouth has become renowned for it’s excellent coastline, long flat sandy beaches, and numerous family attractions that ensures millions of visitors from all over the UK arrive at it’s doorstep for their holidays and leisure.

Great Yarmouth is now the 3rd most visited seaside town in the UK. There are more than 15 miles of sandy beaches within the wider Greater Yarmouth area, all with gentle slopes that make bathing a delight, from the marram dunes of Winterton-on-Sea and Hemsby in the north to cliff-backed Hopton-on Sea in the south.

Tourists have the choice of more than 60 tourist attractions, including three theatres and three coastal 18-hole golf courses, one 9-hole course, a driving range and a seaside racecourse as well as the rest of Norfolk and Suffolk on the doorstep.

A £20m refresh of Great Yarmouth seafront has brought a wave of private investments along the famous Golden Mile. As a result of this investment visitor numbers have steadily began to rise.

Address

  • City: Great Yarmouth
  • State/county: Norfolk

Detail

  • Price: £44,950
  • Property Type: Hotel Room

Contact info

SusanKellyUK
SusanKellyUK

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