Its an investment property and at least one that’s not repurposing what could be a family home into short term let arrangement. It’s a nice hotel room on great grounds it’s easily worth 200 a night probably one at current prices, 8 years of 50% capacity would earn its money back
For that hotel? Good deal honestly.
That’s bigger than most new one bed apartments on the market
Probably even 2 beds
This is not uncommon in some major cities. You can buy suites/residences in certain luxury hotels.
Features
Property size – 643SqFt
Room lease 99 years
BER C1
Annual rental income
Leased to Hotel Operator for patrons on a commercial lease
No P.I. Insurance required
Electricity included
No upgrading of room required
Wait…I’m confused. I buy the lease for 320k for 99 years and they pay me for use of the room…can I live there if I want?
Stayed in a standard room in August.(for a wedding)
It was 340 a night for a standard double bed room
More like a fucking apartment though, the size of it 👍
This kinda thing wasn’t an uncommon way local developers funded hotels back in the boom. Some local GAA star would go around persuading all the local businesses to buy / long lease a room, getting income from the hire costs (sometimes guaranteed) to fund the thing. Then the deal usually has a buy back right for the hotel owner if things went well.
8 comments
Its an investment property and at least one that’s not repurposing what could be a family home into short term let arrangement. It’s a nice hotel room on great grounds it’s easily worth 200 a night probably one at current prices, 8 years of 50% capacity would earn its money back
For that hotel? Good deal honestly.
That’s bigger than most new one bed apartments on the market
Probably even 2 beds
This is not uncommon in some major cities. You can buy suites/residences in certain luxury hotels.
Features
Property size – 643SqFt
Room lease 99 years
BER C1
Annual rental income
Leased to Hotel Operator for patrons on a commercial lease
No P.I. Insurance required
Electricity included
No upgrading of room required
Wait…I’m confused. I buy the lease for 320k for 99 years and they pay me for use of the room…can I live there if I want?
Stayed in a standard room in August.(for a wedding)
It was 340 a night for a standard double bed room
More like a fucking apartment though, the size of it 👍
This kinda thing wasn’t an uncommon way local developers funded hotels back in the boom. Some local GAA star would go around persuading all the local businesses to buy / long lease a room, getting income from the hire costs (sometimes guaranteed) to fund the thing. Then the deal usually has a buy back right for the hotel owner if things went well.
More than one tanked.