Hotel room investment opportunities available at the George Best Hotel, Belfast
For those looking to make a good property investment, it can be hard to know where to start. However, one exciting opportunity in Belfast has generated a lot of attention.
The George Best Hotel is a grade BI listed building located in an enviable spot in the city centre of Belfast. It is set to sport an impressive 83 suites overlooking the wonderful views of Belfast’s City Hall and its surrounding gardens.
Hotel History
The stunning Baronial building that is set to become the George Best Hotel was formerly used as office space and is about to undergo an exciting redevelopment, making it one of the stand out luxury hotels in the city. The hotel has a vast number of amenities including bars, restaurants, wedding and event spaces which is set to make this Baronial hotel a popular and remarkable spot.
Hotel Redevelopment
The building has been constructed in the baronial style, which will be incorporated in order to preserve its beauty and history. The hotel is being redeveloped using Dumfries stone and corner turrets in keeping with the rest of the building. As the name suggests, this luxury hotel will take on a football theme throughout to honour Belfast’s favourite son.
The Location
The George Best Hotel can be found on the junction of Donegall Square and Bedford Street in the centre of Belfast. The resurgence of the tourism industry in Belfast over the last year, makes this the perfect time to offer travellers unique and luxurious accommodation. Having seen 1.4 million visitors pass through its streets, Belfast has contributed £278 million to the economy as well as supporting 17,000 jobs. The local council have outlined plans to increase this growth by a further 100% in the next four years. Belfast has been crowned the best city in the UK and is the driving force behind the Northern Irish economy.
The Investment Opportunity
This new and exciting hotel is set to be something very special, and so the chance to invest in such a venture will be tough to resist. This hotel room investment is set to generate a 7% ROI in the first three years, with this increasing to 8% in year 4 and 9% in years 5-10. There is a 106% buy back opportunity from year three which increases to 2% every year thereafter. It is estimated that the completion date of the hotel will be the third quarter of 2018.
A large hotel suite covers 303 square feet and costs £121,200, whilst a single hotel suite is 148 square feet and costs £80,000.
To make your investment you will need to reserve your selected unit with a £2,500 reservation fee before solicitors are then instructed. Half of the funds are due upon exchange, and the remaining 50% of the funds are due on completion.
This stylish and exciting hotel will couple modern luxury with a traditional setting to create something which its investors and the city of Belfast are sure to be proud of.
For more information on the investment opportunities available at the George Best Hotel, please contact Hopwood House.