Hotel room investment

Seabee42

Since most hotels can borrow the money for redevelopment (unless they are already heavily indebted) why would they sell part of their business. If its a new build again why would they sell part of the business unless its a risky business. Its not like they are outsourcing a part of the business that is not core business.

coastline

No good for Sipp's or Isa's but you can bed and breakfast them to save capital gains tax.

george4064

Don't mean to be harsh, but that advert looks more like a joke/prank than a serious investment proposition!

gingercordial

This is a terrible idea. It's Friday afternoon before a bank holiday so I have little better to do than some research for you...

"All pictures shown are for illustration purposes only" - you can tell that because Rood Lane EC3 is in the middle of the City of London. So why do the photos show Westminster Abbey and so on? They are nowhere near. They can't even be bothered to make those relevant, which is not a good sign.

Rood Lane then... a short little one way street in the City, which a quick look at Google Maps would show has no existing hotels:

https://goo.gl/maps/hN2P924MBKr44dZL6

From this we can deduce this hotel room does not actually exist yet (if it ever will). "High occupancy rates"? Just marketing fluff ie a lie.

Giving the benefit of the doubt, if they are going to build one where will it go? The whole western side of Rood Lane is the Walkie Talkie (20 Fenchurch Street), definitely not going anywhere, and southern half of the eastern side is a church (Grade 1 Listed, Christopher Wren designed, almost certainly also not going anywhere). The only thing they could possibly be talking about is if they redeveloped the office block that takes up the northern half of the east side, Plantation Place. Is that likely?

Whilst no Walkie Talkie, Plantation Place is itself an enormous office block:

https://en.wikipedia.org/wiki/Plantation_Place

It's so big it's difficult to find a photo showing all of it, but here it is with the spire of the listed church in the foreground:



It's the UK HQ of Accenture as well as various insurance firms. It was last redeveloped extensively and at great cost in 2004:

https://www.arup.com/projects/plantation-place

How likely is it that it's going to be turned, in whole or part, into a luxury hotel? Not impossible but I can't find anything about it when searching for "planning permission Plantation Place" (though that is how I found most of the above, very quick and easy). Seems like a bit of a pipe dream, and since this investment isn't regulated at all they can just take your money and claim to have not got permission, sorry, all gone.

Finally "close to amenities"? Don't make me laugh. If they really had a hotel on Rood Lane, in the heart of the financial district and close to the Tower of London, next to everything that's there, they'd be shouting about what exactly it is next to from the rooftops, not some vague statement like that.

Don't even consider this for another second.

doe808

Having worked in funding hotels in the past (albeit on the legal side), my answer is absolutley not.

Zanderman

sixpence. wrote: »

Anyone thought of doing this? Would be pretty cool to own a London hotel room, but I'm not sure if it's a sound investment or what the service charge is.

https://www.zoopla.co.uk/new-homes/details/51498239?search_identifier=d1086861903fd702d21d09d3a7a0e514

No. It's a pretty cool way of losing your money,

[Deleted User]

Apart from that, images on Zoopla are FAKES. These are generic Shutterstock material or borrowed pictures from other hotels. Do google reverse image search to see for yourself.

jonesMUFCforever

I agree with everybody its a no no - however should I be foolish to invest how do you realise your profits ie how do you sell this investment?

londoninvestor

pioruns wrote: »

Apart from that, images on Zoopla are FAKES. These are generic Shutterstock material or borrowed pictures from other hotels. Do google reverse image search to see for yourself.

The view of Parliament shown in the photos certainly doesn't come from the EC3 address listed for the property!

tacpot12

The title of this thread could be "sixpence turns a shilling into tuppence".