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Go for Gold! A Londoner’s take on the greatest city in the world in Olympic mode
August 6, 2012Article by Ray Withers
As a Londoner, born and bred, sitting here in our Mayfair office, just minutes from the Olympic venues of Hyde Park, the Mall and Horse Guards Parade, I’m very much in the spirit of the Games and with an impressive 16 gold medals already under Team GB’s belt, I think there’s never been a better time to look locally at the opportunities available in this, the greatest city in the world.
Having had to battle against shuffling Spaniards, chattering Chinese and lost Lithuanians on the Tube over the last week to get to work, I can certainly vouch that tourism to the Capital is thriving! The Olympic effect is forecast to increase overseas visitor numbers from 30,000 to 60,000 per night this month alone according to the European Tour Operators Association and over US$700 million has already been spent according to VISA.
The impact not only of the Games but also the Queen’s Diamond Jubilee a few weeks ago and the Farnborough Air Show has put the already robust London hotel market in an even stronger position with Jones Lang LaSalle Hotels predicting that “London will continue to far outpace the rest of the European hotel market”.
To get a real feel of what it’s like to be in Olympic London today and what opportunities there are for investors in the Capital’s hotel market, early last week I set off to explore the booming Docklands area in east London, just minutes from the Olympic Park at Stratford.
In this exclusive short video I visit the site of our superb hotel room investment, Holiday Inn Express – London ExCel, to discover why it remains one of the most attractive investment opportunities in the Capital today.
The Holiday Inn Express – London ExCel has appealed so greatly to investors keen to tap into the lucrative London hotel market at an affordable rate that only 13 rooms remain available.
The spacious hotel rooms are excellent value for money at 22% below RICS valuations and 50% LTV non-status finance is available upon completion. In addition VAT is paid saving you an extra £25,000 and NET yields are expected to rise to an impressive 10.5% by year 5.