Country View Double Room, 010, Foxglove Hotel

£85,000

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Property description:

Country view, ground floor double hotel room (unit 010) for sale at the Foxglove Hotel in South Devon. Fully managed, hands-off hotel room investment on a 125 year lease generating assured annual returns and offering 2 weeks personal usage each year.
Highlights
Property details
Financials
Location

Foxglove Hotel, South Devon

Situated just south of Dartmoor National Park and within easy reach of hundreds of quality sights and attractions, The Foxglove Hotel has been awarded a 4& rating from the AA and has been operating as a hotel for over 80 years.

Set in grounds of 9 acres the hotel has 44 en-suite rooms, a popular restaurant, lounge, bars and function rooms which are also licensed for civil ceremonies making the hotel a popular venue for weddings.

Resort Highlights

  • 4* operational hotel in South Devon
  • Popular hotel for over 80 years
  • Within easy reach of many quality sights & attractions
  • Set in grounds of 9 acres
  • Licensed wedding venue

Investment Highlights

  • Fully managed hands-off investment
  • 125 year leasehold properties
  • 10% NET returns for 10 years
  • 125% buy back in year 10
  • No stamp duty on purchase
  • 2 weeks free usage per anum

Enjoying an enviable position toward the south edge of the Dartmoor National Park, Foxglove Hotel provides investors with an attractive alternative to a traditional buy to let property in the ever popular holiday destination of South Devon.

Operating as a hotel since the 1930’s the current property has been awarded a 4* rating from the AA for its facilities and is set within 9 acres of glorious Devonshire countryside.

The hotel inventory consists of 44 en-suite rooms (4 suites, 12 premier doubles, 28 double twin and two single rooms) set over two levels with most rooms enjoying beautiful country views.

A highly acclaimed and popular restaurant, lounge, bars and function rooms ensure the hotel can well cater for both corporate and private functions. Additionally, investors may also note that the hotel has been nominated for the South West Wedding Awards of 2018 and enjoys high demand as a wedding venue with multiple rooms licensed for civil ceremonies.

Foxglove Hotel Room Investment

Those investing in the Foxglove Hotel are purchasing a specific hotel room from the developer on a 125 year lease registered with the UK HM Land Registry. As part of the agreement the room is then leased back to the developer who employs an experienced hotel operator to assume all responsibilities for the day-to-day management of the hotel.

This business model, together with operator’s and developer’s track record, means that investors can look forward to assured returns of 10% NET paid on an annual basis. The Exit Strategy comes in the form of a developer buyback in year 10 at 125% of the initial purchase price.

Whilst a traditional buy-to-let property is likely to require active involvement from the investor, Foxglove Hotel ownership provides a hands-off, hassle-free, incoming generating asset. You will not be responsible for any aspect of the property management, refurbishment costs or issues relating to tenants and will enjoy paying zero maintenance or management fees. The only annual fee is £300 ground rent.

In addition to the returns investors enjoy 2 weeks personal usage per annum.

Our team of executives are on-call to assist you throughout every stage of the purchase process, from initial enquiry to completion of your property purchase. The purchase process will proceed as follows:

1. You will be sent a reservation form which you need to complete and return. This will include details of the unit you are purchasing.

2. You will be required to pay a £500 refundable deposit within 48 hours of our receipt of your signed reservation form to secure the unit. Once both the reservation form and fee have been received the sales process will begin.

3. A memorandum of sale is then produced and sent to the developers solicitor and the solicitor that you have chosen to act on your behalf. A contract pack will be sent to your solicitor for them to review and send to you.

4. A welcome email will be sent to you from a member of our sales team detailing the purchase process and a brief outline of your chosen solicitor’s AML requirements. Attached to this email will be the receipt for your £500 refundable deposit.

5. Your solicitor will also send you the purchase contracts and their report on title, this is your third party advice that relates to your purchase. You should read this thoroughly and liaise directly with your solicitor to ensure you’re satisfied with the documents you have received.

6. Once you are ready to proceed you will be asked to sign and where appropriate have your witness sign the contracts and return them to your solicitor, using a secure, signed-for delivery service. At the same time, you are required to transfer the balance of purchase into your solicitor’s client account.

7. Upon receipt of your documents and the balance purchase monies, exchange can take place. Your solicitor will then attend to all registration formalities with the Land Registry.

The appeal and popularity of South Devon continues to grow with both domestic and foreign visitor numbers increasing demand for quality hotel accommodation.

6% of all overseas visits to the UK include a stay in the South West with more than two million visits each year. With 34% of domestic holiday nights spent in the South West, the Foxglove Hotel is brilliantly positioned to capitalise on the wealth of sights and visitor attractions South Devon has to offer.

Situated to the south of Dartmoor National Park and within an hour of Torquay, Dartmouth and Plymouth, guests can easily explore the surrounding areas and picturesque towns and villages which dot the landscape. Diitsham, Ashburton, Tones and the beautiful fishing town of Brixham are all within a pleasurable drive.

Cornwall’s world famous Eden Project lies just an hours drive west whilst the UK’s largest aquarium is situated a little closer in the historic naval city of Plymouth.

In addition to attracting families, the area also draws those in search of outdoor pursuits with huge swathes of coastline offering quality surfing, potholing and canoeing. South Devon is also increasingly associated with high quality gastronomic experiences with much of the local produce considered to be the best in the UK.

Exeter Airport is just an hour away connecting directly with London City Airport, Manchester, Newcastle, Glasgow and Edinburgh.


Location map:

South Devon
Hotel
1 Bedroom
1 Bathroom

Property summary


  • 4* operational hotel in South Devon
  • 125 year leasehold properties
  • Fully managed hands-off investment
  • 10% NET returns for 10 years
  • 125% buy back in year 10
  • No stamp duty on purchase
  • 2 weeks free usage per annum