Stunning, Modern, Residential Apartment Hotel - Stylish & Elegant!
Fabulous, Extra Large One-bedroom top floor fully furnished, 75m2 apartment which includes air conditioning and all the wonderful furnishings and equipment that you see in the photos. The kitchen has a built in SMEG Dishwasher, built in Refrigerator and Freezer, Washing Machine/Dryer, and a Microwave, oven and hob and 2 Flat Screen TV's.
This fabulous 75m2 one-bedroom apartment is an investment in a rental pool Apartment/Hotel. Why such great value? It's because that if you want to live in it yourself, you can elect to withdraw it from the Rental Pool and that requires just a waiting period of nine months and payment of VAT on the value of the apartment. While there is no parking space allocated to the apartment, parking is available for rent from the Body Corporate.
While in the rental pool, you can use your apartment for any 30 days of the year you wish to. The Rental Pool has excellent returns and for the seven months of this fiscal through January 2017 was R57,029 after all expenses including levies and rates and management costs. This was the actual amount of the cash distribution to the owner.
If you leave the apartment in the rental pool, there is no transfer duty or VAT on the purchase price.
Protea Hotels was acquired last year by Marriott International and now North Wharf guests are able to use the Marriott Rewards program worldwide. Additionally, Marriott recently announced its acquisition of the Starwood Hotel Group. These are important benefits to owners of North Wharf as it is now part of a truly global hotel group.