St. Camillus is acquiring the hotel as a fully operational and going concern with booking commitments in place as a budget 2-star hotel with prominent sea views.
St. Camillus will be implementing a full, rolling refurbishment with an aim to get as much in place before the summer season 2018, and complete the remaining work in the low season from January 2019. The hotel will not close for business to maintain an income for their investors and keep up with the demand.
NO OF UNITS: 30 en-suite rooms
UNIT PRICE: £49,950
OWNERSHIP: 999-year leasehold property title
YIELD: 10% net contractually assured (£4,995 per year)
YIELD PAYMENT: Quartly in arrears
ADDITIONAL OWNERSHIP COST: None
The hotel also has several function & dining areas and a working kitchen that will be modernised to offer training facilities for the occupants and local users, further supporting their stay.
The building will be refurbished to cater for the needs of their guests and growing tourist trade, offering the highest standard under a recognised brand in Blackpool and more importantly, creating a home away from home for their clients.
The rooms will be fully refurbished to offer a boutique & luxurious feel within close proximity to the beach and sea. The rooms will be fully redecorated, newly furnished & new bathrooms installed. All rooms will be marketed to the public and become a leading autism friendly hotel in the area. To keep occupancy levels high all year St Camillus offer the rooms to college supported students to come to stay, train and work at the hotel to help them gain essential experience and potentially lead to future opportunities.
The hotel’s location was sourced for it’s fantastic position on the front line of the promenade with unspoilt sea views and metres from the centre of Blackpool and all the attractions the city has to offer. Blackpool attracted over 17 million visitors in 2016 and is projected to increase year on year, creating substantial investment