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Hotel Room with 10 percent per annum rental guarantee for 10 years [ SOLD ]

 Region: Istanbul

 Price: EUR € 99 524

 Bedrooms: 0

 Property Type: Apartment

 Development State: Off Plan
 
Amenities: In historic place, In vacation place, 24 Hour security, In Town, In City Description:
A superb investment opportunity with a 10% p.a. rental guarantee for 10 years.

The Gallery, Istanbul, a 36 Bedroom Boutique Hotel

Planet Viva are delighted to offer you an outstanding opportunity to invest in a thriving city where demand for accommodation is amongst the strongest worldwide.

The Gallery Hotel is a refurbished historic building ideally situated for both business and tourist guests alike in the centre of the historic Sultanahmet district of Istanbul, a short walk to all the tourist attractions such as Topkapi Palace, The Blue Mosque, Hagia Sophia and The Grand Bazaar.

Demand for hotel accommodation is extremely high in Istanbul and there is currently a lack of hotel rooms to meet this demand.

Price per freehold room is £90,000 inclusive of furniture.

Payment structure is as follows,

£2,000 reservation deposit
20% with signed contracts in 14 days
30% three months from the date of contract
50% - £2K six months after completion.
Completion will be Feb/Mar 2009.

Therefore the final payment will not be made until Aug/Sept 2009.

Mortgages are available up to a Loan to Value of 80%, the interest rate payable is approximately 7%.

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