Very rarely does an opportunity present itself to own a stunning first floor 1 bedroom, fully furnished and equipped, north facing sectional title suite in the prestigious President Hotel in Bantry Bay, one of the most sought after hotels and holiday destinations in Cape Town.
The President Hotel is a world class luxurious Four Star Hotel and offers it's owners and guests all the frills that one would expect, such as a members lounge, free wi-fi, a stunning pool and entertainment area, kids play area, restaurants, beauty salon, a gym, curio shop, 24 hour room service and so much more.
All suites in the hotel form part of the hotel's rental pool and cannot be bought out of the rental pool, lived in permanently or rented out privately by the owner. Owners can use the suite for 30 days per year(in any time denomination), free of accommodation charges(excluding a daily service fee), and for the period not in occupation the owners share in the monthly net profits of the hotel's rental pool. This size unit received R84 972 in net profit payments for the 12 month pre-covid period 1 January 2019 to end December 2019. Monthly share of net profit varies from month to month as revenue is based on occupancy levels in the hotel.
Transactions of this nature do not attract Transfer Duty or Vat and are zero rated by SARS.
Take this opportunity and purchase this sectional title unit and enjoy the benefits that it has to offer.