Hi
Does anyone have any suggested sites to find suitable properties in zone 1 in London? I'm currently interested in finding something around the 20,000 square feet mark (which would be circa 120 beds by my very rough calculation).
I'm very much in the infancy of trying to get a handle on leasing costs in London (before I then go to the councils to figure out if they'd allow the site to be run as a hostel), so go easy on me :)
Thank you to anyone who can suggest something.
9 years
Best putting an advert onto Gumtree, asking for something like that.
Zone 1, for an 120 bed capacity hostel, you are asking for a lot of money. Beware, the backpackers in London are a fickle bunch, and expect a lot, for not a lot of money, especially in terms of location and price. They expect to be next to Buckingham Palace in a 6-bed dorm, with free Wi-Fi and Internet for £10 a night.
9 years
Beware, the backpackers in London are a fickle bunch, and expect a lot, for not a lot of money, especially in terms of location and price. They expect to be next to Buckingham Palace in a 6-bed dorm, with free Wi-Fi and Internet for £10 a night.
Rjd1983, are the backpackers or the long term guests in the hostel the most likely to have those expectations? In my limited trips to London I've noticed that the clientele seem to be split between those two categories, and I felt like the backpackers were a lot more willing to spend their money than the ones living there. People used to always show up from other countries expecting everything to be really expensive due to the conversion rates against the Pound. Is that no longer the case?
9 years
1) forget zone 1. unless you have connections in the property world or a sh!t tonne of cash, you'll be seriously hard pressed to find a property that's appropriate.
2) yes, they can be fickle but I wouldn't say any more so than for any other major city (paris, NYC etc). one problem with london is that most people don't realise that the city is surprisingly spread out; there is no 'downtown'. the important point is to be near a tube station.
3) brian is right - there are 2 very different groups of hostellers in london. workers and tourists. LOADS of people turn up in london to work and stay in a hostel until they find a place (some dont bother and just live in the hostel) and whilst at first they are happy (well, maybe not 'happy') to pay the going rate but quite quickly they realise their funds are running out and then get very picky.
all of that said, in London, you can essentially put up a tend in your backyard (if you have one) and rent it out all year round. demand here is virtually insatiable.
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