Pensions are headline news again and there is freedom on the horizon for the entrepreneurial 55 plus looking to a different sort of retirement. It isn’t long until April 2015 comes round and those 55 and over can get hold of their pension pot and use it as they want, rather than having to stay in work and carry on until a traditional retirement at 65, 67 or even more.
Canny investors are being steered towards boutique hotels in the tourist hotspots such as Bath by sector specialists like Colliers International, with hotels specialist Simon Wells saying hotels and guest houses in the city represent an ideal investment opportunity for people keen to have a change of lifestyle. He said the Kennard (pictured above) just off Great Pulteney Street would make an ideal target for people looking for a highly profitable not to mention comfortable business:
“The Kennard is on the market at £1.7m freehold – which isn’t bad for a top-rated business generating £170,000 profit from turnover of £336,107 net of VAT.
“This is a classic Bath B&B with a dozen very smart letting bedrooms and a delightful garden. People looking for a great investment opportunity for their pension pot cash will need to hurry as I don’t imagine this property will be on the market very long.”
Simon Wells said the radical changes proposed on pension schemes would allow people to take their money without having to place it in an annuity.
“Come next April people can take the cash when reach 55 and spend it as they wish – and while the Lamborghini might be nice the Kennard matches it for style and will be generating good income for years to come.”
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Colliers International is a global leader in commercial real estate services, with over 15,800 professionals operating out of more than 485 offices in 63 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research.
In the UK, Colliers International is one the top real estate advisory organisations, employing over 700 people in 12 full service offices across the UK and Ireland. For the latest UK news from Colliers International, visit colliers.com/uk/news or follow on Twitter: @Colliers_UK