Holiday Inn’s New Flagship Docklands Hotel – Open For Investment
One of the world’s most recognised hotel brands, Holiday Inn has been selected as the operator for the new West India Dock Road hotel, located in the heart of one of Europe’s premier financial districts.
The £32 million project, due for completion in time for the London Summer Olympic Games in 2012, will be the Intercontinental Hotels Group (IHG, owner of the Holiday Inn brand) flagship hotel in Docklands allowing savvy investors to capitalise on London’s thriving hotel market which is currently outperforming major European cities including Madrid, Rome, Brussels, Berlin and Amsterdam.
According to an independent feasibility study, despite the recent economic downturn, occupancy rates for Holiday Inn hotels in London over the last 4 years were 85% and the brand is going from strength to strength following a global relaunch now in its final stages. The Holiday Inn West India Dock Road with its 252 4* hotel rooms will also assist in meeting the target of 50,000 additional rooms in the Capital by 2026 as outlined by The London Plan.
A landmark building, Holiday Inn West India Dock Road will occupy a prime strategic location adjacent to Westferry DLR station and only 3 stops from Bank, 2 from Canary Wharf, less than 3 miles from London City Airport and 15 minutes to the Olympic Park at Stratford. As an official partner of the 2012 Summer Olympics, Holiday Inn has designated the Docklands hotel as a feeder hotel for the games which are expected to attract over 500,000 visitors.
Steven Worboys, MD of property investment experts, Experience International based in Trafalgar Square which sold out its first allocation of units at Holiday Inn West India Dock within just 4 weeks earlier this year and now has new units available in phase 2, comments,
“London remains one of the most sought-after property investment destinations in the world and the Holiday Inn West India Dock presents an outstanding opportunity to include high yielding prime London real estate at 19% below official RICS valuation as part of a robust portfolio. Fully managed and operated by Holiday Inn, investors can be confident in nearly 60 years of hotelier experience and the support of parent company IHG, the largest hotel company in the world by number of rooms.”
With over 11,600 sqm of build area, the 17 floor hotel will offer high quality rooms and a number of executive suites. In addition guests can enjoy first class on-site facilities including the restaurant, café, bar, gym and 300 sqm of conference space. Conservatively forecasting 70% occupancy rates in year 1 and rising to 80% from year 2 onwards, minimum net yields of 10.7% are expected in year 5 and thereafter and non-status finance is available. Available from £189,000, 19% below the official independent RICS commercial valuation, the hotel rooms in the newly release phase 2 are already selling fast to both investors based in the UK and the Middle and Far East.
For more information about investing in the exciting hotel room investment, Holiday Inn West India Dock Road, call Experience International today on + 44 (0) 207 321 5858 or visit www.experience-international.com.