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London, United Kingdom, 2006/04/05 - GuestInvest, the company behind Guesthouse West, the UK’s first hotel buy-to-let scheme, has announced the launch of Nest, a luxury 170-room hotel in Paddington..
GuestInvest, the company behind Guesthouse West, the UK’s first hotel buy-to-let scheme, has announced the launch of Nest, a luxury 170-room hotel in Paddington. Scheduled to open for business in early 2007, Nest is located close to major transport links and within easy reach of Heathrow Airport, making it an attractive proposition for frequent fliers and business travelers.
As with Guesthouse West, Investors can buy their own fully-maintained room at Nest, stay there for up to 52 nights a year for free, and receive 50 per cent of the room’s income which is let out by the hotel on their behalf throughout the year.
Rooms went on sale off-plan to investors in February, priced from £175,000 for a 999-year lease and include complimentary membership of exclusive London members’ club Home House.
Rooms at Nest have been designed by exciting new UK architects Cowie Dalgleish Montgomery who, in a unique collaboration with leading British super yacht builders Pendennis, will apply boat builder ingenuity to the hotel’s design. The design of each room has focused on giving guests the best night’s sleep and the highest level of comfort, with bespoke hand-made beds from Savoir Beds, wireless access, power-showers and a 24 hour concierge service.
Rooms at Guesthouse West in Notting Hill, which launched in April 2004 sold out within weeks. Investors there are already seeing returns in excess of 6.5 per cent in the first 18 months of ownership, and those who have since sold their rooms are seeing capital growth of 10 per cent. With London hotel occupancy rates for 2006 estimated at over 80 per cent, similar returns are anticipated for Nest.
Johnny Sandelson, CEO and founder of GuestInvest said: “Through GuestInvest we are effectively creating a brand new asset class which is now a recommended SIPP* investment with very attractive tax advantages. Nest also allows us to meet the demand from those who missed out on investing in Guesthouse West, and offers a fantastic opportunity to invest in a secure, hassle- and maintenance-free asset.”
Latest research suggest that London is a magnet for overseas visitors and an exciting market for hotel owners, welcoming over 11 million tourists and business travellers each year. In the first eight months of 2005, occupancy rates for London hotels were 79 per cent and are expected to rise, while revenue per available hotel room in the same period has also seen a 2.8 per cent rise.
Those interested in finding out more about Nest or Guesthouse West should call 020 7747 6880 or visit GuestInvest’s showroom at 87 St James’s Street where a life-size Nest room is on display, London. The showroom is open from Monday – Friday 10am-6pm.
* Investors purchase a GuestInvest room as part of a SIPP should note that while they are unable to stay in their room, their return on investment will rise accordingly as the number of let-able nights increases.
Notes to editor
About Guesthouse West
Launched in April 2004 Guesthouse West has made its name as one of the hippest places to stay in London. Built on a chic but cheerful concept all 20 rooms have ensuite facilities, Wireless Broadband, Flat screen TV/DVD technology and toiletries by Molton Brown.
GuestInvest created by developer Johnny Sandelson, is a scheme designed to promote the sale of hotel rooms to investors, launched in April 2004. Under the GuestInvest deal, investors can buy their own room in a hotel, stay there for up to 52 nights a year and receive a return on their investment by allowing the hotel to let the room out for the remainder of the year.