17 Square Metres

[Executive Sadman]

would make a fantastic women`s refuge 21 income earning rooms

Indeed, no shortage of eastern european women able to supplement their cabbage picking incomes round those parts.

Nor any shortage of single yank airmen flush with dollars to be parted with either.

Edited February 21, 2014 by Executive Sadman

[Fromage Frais]

Look at this you can buy a 72 bedroom hotel in Bulgaria for £890k

http://www.rightmove.co.uk/overseas-property/property-34411088.html

You can buy a hotel with 40 plus rooms in the UK for the same price if not less in areas like Blackpool.

Even in ok ish parts of the country you can pick up a failed hotel requiring significant investment for under 30,000£ a room

I am looking at hotels at the moment and they have gone down 40-60% in many cases (2006 seems to be the bubble time) and for me my decision to go down this path was partly motivated by the fact that I would rather try and roll the dice than spend 500k on a nice 4 bed house.

To be brutally honest though renovating hotels with this number of bedrooms is not for the feint hearted and there is a reason the prices have fallen... they are not going cheap its just a fair price for a business which is risky, competitive and impacted by the local demand/economy.

I would make sure you had nearly the same as the purchase price again to make sure you could bring the hotel up to spec if its in bad condition.

Edited February 21, 2014 by Fromage Frais

[longgone]

Indeed, no shortage of eastern european women able to supplement their cabbage picking incomes round those parts.

Nor any shortage of single yank airmen flush with dollars to be parted with either.

A new cabbage picker every night for 3 weeks

Sounds like a plan to me

[silver surfer]

There's nothing inherently wrong with small apartments. In the 1980's when I first moved to London I chose a tiny flat in a great area rather than a bigger place in a not so great area. It meant I could walk to work, walk to the West End, walk to the Kings Road...it was a choice that worked for me. I understand that was the 1980's when people had more choices, but the same principle still applies.

I used to work a lot in Asia and saw people living good lives in small spaces, in fact even with families often choosing smaller places over bigger ones in order to be close to where they wanted to be.

If you can just get rid of the hoarding bug then living small has got a lot going for it. Certainly I see people in big houses who basically use them as warehouses for their shopping addiction, given how cheap it is now to buy rubbish like exercise bikes and tanning booths and wine fridges and drum heros it doesn't take long for even the biggest house to silt up with cr@p unless you can take a deep breath and cut up the Argos loyalty card.

[Ah-so]

It looks like a place that would rent for £150 per week in London. Using my vague valuation rule of thumb, that equates to £150k.