Hotel in city London
250.00 sq.m.

€ 1 977 000
UK. London.
Hotel rooms at Park Plaza
Park Plaza County Hall
The number of units in package: 5
Package price: £1,705,077 or 997 1 003 euros.
Net annual income: £110,830 or 129805 euros.
Yield: 6.5%
Ownership structure at the Park Plaza County Hall:
After the end of the period of guaranteed rental income” property rights in common areas (bar, restaurant, gym, SPA, etc) moved the Management Company “South Bank Hotel Management
Shares in the company South Bank Hotel Management (SBHM) owned by all the Owners of apartments in the complex (398 apartments).
Thus, individual owners own the Freehold on the building and common areas through the ownership of shares of the Management company SBHM.
Director of the company is Galliard Homes – the developer that built the complex previously and owns 35 rooms.
The Board of Directors also includes the company asset management Asset Management Company, which represents the interests of individual owners and whose services are also deducted from the profit of individual owners.
The management company signed an agreement to manage the hotel with Park Plaza Horels Europe B. V. for 25 years (was 17 years)
Making a profit from the use of the common areas – all funds received from the use of the common areas, minus the fee of the Management company, payable to individual Apartment Owners on a monthly basis.
Acquiring any room yield and occupancy of confirmed financial reports for the previous 3 years. Occupancy of rooms is usually not less than 90%. Income stipulated at purchase (6,5%) already takes into account all the costs of managing the numbers.
Reliability contribution and profitability is higher than in any Bank.

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Seller information

Seller type Agency
Company ProfitSale

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