Property Description
Unusual Investment Opportunity. FOR SALE BY AUCTION ONLINE ON 14TH SEPTEMBER 2023 A Standard Double Room (Unit 1-06) at the Royal Albert Hotel, London Docklands E16 2FQThe hotel trades as The Royal Albert Dock London and is part of the IHG hotel property group.
Lease: 199 year lease from 1 Jan 2013 with Albert Venture Limited.
Income: Derived from the letting of the room + any leisure activities hotel guests pay for + activities directly connected to the operation of the hotel (minibar etc) less apportioned management and premises costs. Paid 6 monthly.
Yields: Projected to be 9-10%, though note during COVID this was not the case, however still did receive income during this period as the hotel was used as a quarantine hotel.
Location / Links: The hotel is located approx. 1 mile from London’s City airport and is 5 mins from London’s Excel Centre and O2 Arena. It is also convenient for tourists being close to Canary Wharf and Greenwich - National Maritime Museum, and Greenwich Observatory.
Suitability: This property would suit an investor who doesn’t want the hassle of maintaining a property and dealing with tenants, though still obtaining a regular income.