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  • 12
  • Montana
Price £443,847
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Property Description

Fully serviced workforce accommodation – wing of 12 executive studios.

Up to 32.67% initial NET rental yield - Average rental yield over 10 years of over 52% per annum

Optional 20% assured net yield for 5 years

999 year lease on the land

Developer with a track record of completed and managed projects

Strong rental demand - 15,000 oil and service sector workers and rising

Rental income supported by the world’s largest oil companies including ExxonMobil, Chevron, Halliburton, Hess and BP

Early units will be fully operational in April to ensure quick returns.

KEY FINANCIALS FOR A WING OF 12 STUDIO SUITES

PURCHASE PRICE: $694,400

BOOKING FEES: $23,400

LEGAL COSTS $19,900

TOTAL CAPITAL OUTLAY: $737,700



RENTAL INCOME TO INVESTOR: $277,911

MARKETING COSTS: $5,400

MAINTENANCE FUND: $21,900

PROPERTY TAX: $9,600

TOTAL OUTGOINGS: $36,900



PROJECTED NET INCOME per annum: $241,011

This represents a genuine net yield of 32.67%



Located in east Montana, near the state border with North Dakota and less than an hour from the oil rich Williston, ND, this new, fully serviced workforce accommodation is already under construction with phase 1 consisting of 300 Executive Hotel Studios. This location is firmly in the heart of the Bakken Oilfield hub of activity. The developers now have a firm foothold in the Bakken Oilfield region even earning a mention in the December edition of The Economist as part of an article on the Bakken region.

An Independent Market Study has been carried out which recommends a rate of $141 per night for this project in Montana. They project occupancy of 100% in summer and 85% in winter – averaging 90% with a severe lack of supply existing in Roosevelt County for this type of accommodation. Located in the town of Culbertson in east Montana close to the North Dakota state border and surrounded by oil well activity Culbertson is 45 minutes drive from Williston, ND. The town of Culbertson is a small, but strategically vital location, just 43 miles from Williston. Alternative accommodation options in the area are almost non-existent and with demand continuing to escalate with the ongoing oil exploration activities, the GAL Montana is perfectly located to take advantage of the situation.

We expect huge interest from investors on Great American Lodge Culbertson – Please contact us during this pre-launch to secure your studio. For further information, please complete the enquiry form.x/lcvk

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