Older Hotel Properties in UK are taking the Easier Option of Converting to Homes

The older hotels in the UK, and there are many in the country which are really old, are opting out of the race and are being converted into homes or luxury flats. They make somewhat unusual homes but have some distinct advantages in terms of location and the quality of construction. In addition the luxury apartments get features like ballrooms and grand entrances. If you try and get to the reasons behind this growing trend, you realize that it is easier to sell an old hotel property as homes than as a hotel property that can be run as a viable business. The legal requirement and licenses for running a hotel today are much more stringent. The older properties need extensive upgradation to fulfill the newer regulations and that itself makes them unviable. And finally the atmosphere in these old luxury hotels are too formal for today’s younger clients who prefer high level of comfort in a very relaxed and casual atmosphere.

Stansted hotel conversion project has been approved. The Torcross Hotel which has perhaps the most beautiful location in south Devon is being converted to 15 apartments and three cottages. A lot of these hotels being converted fall in the popular tourist and holiday destinations. The tourist boards of these areas are often worried because of the loss of hotel beds available for tourists. But ultimately it is economics that is driving this trend. It is a huge advantage for the buyer of the converted home as he can never imagine buying that level of property in those locations at relatively modest prices.

In converted hotels you can expect to have a seafront home in the range of £250,000 to £460,000. Private homes, otherwise, can’t even hope to get that close to the sea. The smaller hotels are being converted into a large family home. Dunraven Lodge at Strathpeffer in Ross-shire thus converted has six bedrooms, six bathrooms and landscaped grounds and is available for an asking price of £595,000 from Strutt & Parker. Very often for these old hotels which are basically large period buildings, conversion is the easier option as the other viable option would be to tear down the old building for a new and modern hotel structure.

Via: independent

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