The Star Hotel, Great Yarmouth.
10% Net return for 5 years, 120% Buyback in year 5
The Star Hotel is one of Great Yarmouth’s most distinctive and historic buildings. With a story stretching back to the 17th century, the Grade II listed building has entered a new chapter following a significant and sympathetic refurbishment by its owners in Spring 2017 after being derelict for a few years. The 41 bedroom hotel close to Great Yarmouth’s historic quay and town centre has two comfortable bars, a spacious restaurant, meeting rooms and superb function facilities for corporate events and stylish weddings. There’s also a lift to all floors
and free on site parking for guests.
Half of the Star Hotel’s 41 ensuite bedrooms have been refurbished and stylishly decorated, providing a high standard of accommodation that will be appreciated by corporate guests and leisure visitors alike. There is a choice of Standard Rooms and River Rooms, the latter having views across Hall Quay and the bustling River Yare.
The refurbishment by the previous owners was done to a very high standard and has covered a large part of the hotel. Not only were 19 of the bedrooms refurbished, but also the restaurant and ground floor bar which costs nearly half a million pounds. This investment into the business has paid dividends already with the restaurant and bar being a popular haunt for both locals and tourists to dine and drink with Great Yarmouth. Offering British Pub classics alongside continental specialities, the restaurant is regarded highly and also source many of their ingredients from local farmers. Therefore, the funds raised from selling the individual rooms will be used to refurbish the remaining 22 rooms and other areas of the hotel.
More recently the hotel has become affiliated with some of the energy companies building and providing services to Great Yarmouth’s growing Offshore Energy industry. The hotel already has established relationships with companies who are regularly block booking rooms at the hotel to house their staff working away from home . These companies block book rooms for staff and pay the hotel in full even if the rooms are not occupied, as is often the case. Moving forward the hotel harbors aspirations to further increase occupancy through more relationships with these companies and have highlighted this area as being a significant growth area for the hotel moving forward.
1. 10% Net return for 5 years
2. Free Legal Fees
3. Prices from £44,950
4. Assured buyback at the end of year 5 at 120%
6. 2 weeks free personal usage at the hotel
7. 10% Net assured for 5 years payable quarterly in arrears
8. Complete and operational providing immediate income