New buy-to-let concept to launch in Burnley

A brand new buy-to-let property concept predicted to shake up the budget hotel market is set to launch in Burnley next year.

Apartel Burnley, from commercial property specialists Group First, is a development of 134 luxury one-bedroom hotel suites which can be rented flexibly for any period of time from a single night to a 12-month term.

Designed to work as a student let, business commuter crash pad, starter flat or simply an affordable alternative to budget hotel chains, Apartel will be available from around £150 a week, with a sliding price scale depending on length of stay.

The development is being constructed sympathetically to embrace the history of the area and promote its heritage.

After fine-tuning a prototype at his nearby Padiham headquarters, Group First managing director Toby Whittaker says the formula is almost ready to be unveiled to the public and investors.

“And the beauty really is in the flexibility at every stage – from who can stay there, to how long and even down to multiple income streams for investors.