Raithwaite Hall, UK Hotel Investment, Construction Update
26 May 2010
Principal International are delighted to keep property investors informed of the progress and opportunities available on The Raithwaite Hall project in Whitby. The hotel construction as you can see from the photograph is now underway, and will be the sister project to the Flaxby Hotel. The investment package for the hotel has also seen some recent enhancement with non status finance confirmed at 50 per cent loan to value in addition to the 10 year minimum rental guarantee of 8 per cent. Wates have been appointed as the construction company and completion is scheduled for Summer 2011.
Investors can be reassured by the confirmation of West Paces as the Hotel operator. West Paces is a premier luxury brand managed by the highly respected Horst Schulze previously of the Ritz Carlton Group. This experienced professional team will deliver a unique hospitality experience and maximise occupancy and room rate.
Within the stunning 80 acre estate accompanying the hotel development, there are a number of luxury cottages on site in addition to those planned, and these will offer individuals the opportunity to acquire a exclusive residence on this outstanding development. These properties offer clients a greater degree of flexibility and may be used for holiday residences to capitalise on the lucrative rental market.