Apartment For Sale in Bantry Bay for R850,000 #1414722
Bantry Bay » Cape Town » Western Cape

Apartment In Bantry Bay

Ref # 1414722
R850,000

Property Details

  • 1 Baths
  • 27m²

INVEST WITH THE BEST-PRESIDENT HOTEL

AN opportunity to invest and own a 27m2 studio apartment in the President Hotel in Bantry Bay, one of the most sought after hotels to own a property in and a much sought after holiday destination in Cape Town.

The hotel has a beautiful communal swimming pool and entertainment area, gym, restaurants, conference facilities, and all the heart can desire.

An owner can use the apartment for 30 days a year(in any time denomination you choose) with no accommodation costs except daily cleaning and service fees. For the balance of the time which is not occupied by the owner, one can share in the net profit income of the hotel rental pool according to the size of the unit(net of rates and levies). The hotel rental pool pays a share of net profit on a monthly basis. This size unit received R45 213.54 in net profit payments for the period ending January 2019 to end December 2019.

No Transfer Duty payable or VAT (zero-rated by SARS).

The apartment cannot be lived in permanently nor bought out of the hotel rental pool or rented out privately by an owner.

A fantastic opportunity to own a property in Cape Town and enjoy sun-filled holidays in the best hotel.

Property Features

  • Property Type Apartment
  • Bath 1
  • Pool Yes
  • Floor Size 27m²
  • Land Size
  • Living Area 1

Property Costs

  • Rates & Taxes ± R253
  • Levy ± R376

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  • Marc Lurie
  • Estate Agent