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Notting Hill hotel launches timeshare scheme
London’s Guesthouse West will be the first UK hotel to launch a buy-to-let scheme that enables visitors to buy a room and get a return for their money.
The company behind the scheme, GuestInvest, will offer investors the chance to buy rooms for £235,000 each for a 99-year lease.
Rental earnings from the rooms, which are priced at £99 plus VAT per night, will then be split half between the investor and GuestInvest.
The company has already guaranteed to pay back £11,620 – a yield of five per cent – during the first year alone.
Investors will also be able to benefit from the business asset taper relief, as the scheme qualifies to having the taxation on capital gains reduced from 40 to 30 per cent after two years.
Under the deal, room owners will be able to book 52 nights a year in the room for just £10 a night.
Situated in Westbourne Grove, in the heart of Notting Hill, the property aims to attract commuting professionals who are facing the choice of either paying out large sums on hotel bills or buying a city apartment.
Some analysts have already hailed the scheme as having a major impact on the financing of hotels. Details: www.guesthousewest.com
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