18 Feb 2009 7:19 PM:
Here's a radical thought...
As a very rough, unfounded estimate, I would guess the value of my 2 bed apartment would probably go up by about £30,000 if we had a 4 star hotel with all of the promised facilities on the resort. I for one would therefore be prepared to invest an amount up to £30,000 to ensure that we had such a hotel on the resort. That would mean that if we could get 1000 like minded owners together we would have £30 million.
I did a bit of googling and found that the 4* Marriott Hotel at Heathrow was built for £27.21m
Marriott Hotel, London Heathrow Project New-build, 390-bedroom hotel including leisure, conference and ancillary facilities. The four-star hotel is set to become Marriott's UK flagship. Client Whitbread Hotel Company, partner of Marriott Hotels in the UK Location Alongside Heathrow Airport, on Bath Road Total budgeted project cost £27.21m, of which £21.8m was for construction work and design fees Unit construction cost £862/m2 construction and design fees £55 927 a bedroom Cost and procurement constraints 22-month development programme from planning consent to operational hotel. Fixed-price construction budget established at site acquisition. Form of contract Design and build (unamended JCT81) within a partnering framework.
Perhaps if De Vere do turn down the opportunity to build a hotel on our resort, we could all get together and build our own. That way we would see the value of our existing investments go up and have a major share in a hopefully profitable hotel.
Something to ponder for the future perhaps?
Community thread:
DeVere Hotel
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