Next Step

The Next Step.

Apologies – The original hotel featured here has now been sold to an alternate buyer. We shall be updating this page as soon as a suitable alternate hotel is located. Please do not worry – there are many, many hotels for sale at this time.

 

FIRST FLOOR PLAN DRAWING – DO NOT SCALE

Please ensure that you read ALL of the narrative and study both floorplans on this webpage before going any further. Thankyou.

Bedroom numbers should be referenced as per the plan diagram below which will form the basis of HM Land Registry submissions. Please do NOT use historically variable room numbers/names that appear on hotel doors at the building. These can change over time. What counts is the eventual Land Registry Deed identification documentation. Hence the large point typeface numbering on the plan drawing below.

ALL BEDROOMS ARE EN-SUITE (the plan drawing does NOT show bedroom en-suite facilities, but ALL rooms do have FULL en-suite facilities).

FIRST FLOOR

Bedroom 1 = £24,000 – Available.

Bedroom 2 = £23,000 – Available.

Bedroom 3 = £22,000 – Available.

Bedroom 4 = £23,000 – Group Member Wishing To Buy.

Bedroom 5 = £22,000 – Available.

Bedroom 6 = £22,000 – Group Member Wishing To Buy.

Bedroom 7 = £24,000 – Available.

Bedroom 8 = £23,000 – Available.

Bedroom 9 = £24,000 – Available.

Bedroom 10 = £22,000 – Available.

Bedroom 11 = £22,000 – Available.

Bedroom 12 = £22,000 – Group Member Wishing To Buy.

Bedroom 13 = £22,000 – Group Member Wishing To Buy.

Bedroom 14 = £22,000 – Available.

ALL BEDROOMS ARE EN-SUITE (the plan drawing does not show bedroom en-suite facilities)

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GUIDELINES

1. Our regular hotel-room-ownership members are generally familiar with what this endeavour and hotel project is about. For new members, we always recommend you take independent advice from an appropriately qualified professional property expert. For example a conveyancing lawyer, accountant or financial adviser.

2. Before proceeding, please review this whole website and ask any questions on issues that you need clarified.

3. Conveyance of room ownership title will be via our properly qualified conveyancing lawyer. It is not absolutely necessary, but we do recommend that prospective hotel-room-owners seek independent advice from their own solicitor, or specialist property conveyancer.

The next step is to study the candidate hotel floorplans below, then arrange an inspection by clicking HERE.

If, or when you find a room or section of the hotel that you would like to consider buying, please let us know, and we can PROVISIONALLY make a note? This will help establish whether there is sufficient interest in this particular candidate hotel to move this project forward. Only when it looks like we have sufficient numbers (and underwriting) will we revert to each person and ask if they would then like to either firm up their interest, or resile from taking part. At this point, for positive replies, the relevant forms will be drawn up by the solicitor, and an indication of the contract date for purchase of each hotel room, or hotel part (AFTER we have bought the whole hotel) will be progressed.

The next step for now, is to study the plan drawings illustrated in the plan drawings illustrated on this webpage, become familiar with the layout, and then decide whether you would like to visit the hotel. PLEASE NOTE the hotel is currently closed, so a PRIOR appointment will need to be made to inspect the various rooms. 

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Please Note: We do NOT own the hotel at this time. We are, via our website, establishing whether there remain sufficient of our past hotel-room-owners, plus any new members interested in this project to take it forward to the next stage. That is the point where our solicitors will make a formal offer to buy the whole building from the current owner. The solicitors shall then arrange for each member to have their chosen hotel-room distilled from the main title and into their own personal or corporate ownership, simultaneously recording each individual title with HM Land Registry.

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GROUND FLOOR

Please note, there are substantial amounts of communal areas. These will be clearly delineated on the more formal HM Land Registry title plan documents. For the purpose of building a group of hotel-room-owners the current plans are provided for general guidance and will assist if and when the more formal documents require to be drawn up.

 

Although our own venture capital colleague is already in place to consider underwriting temporary purchase of the ground floor parts for sale so as to enable the purchase of the whole hotel and success of the project if needed.

GROUND FLOOR PLAN DRAWING – DO NOT SCALE

Please ensure that you read ALL of the narrative and study both floorplans on this webpage before going any further. Thankyou.

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The general arithmetic is as follows.

Purchase price £375,000

Stamp Duty £ 11,250

Survey Fees £ 1,000

Legal Fees £ 2,500

Insurance £ 1,800

Repairs £ 16,000

HRO Costs £ 5,000

Maint. Fund £ 10,000

Contingency £ 12,000

Total Startup £434,550

 

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