Beautiful, spacious 2 bedroom, fully furnished and equipped, sectional title suite in the prestigious President Hotel in Bantry Bay, overlooking the pool with sea views, in one of the most sought after hotels and holiday destinations in Cape Town.
The President Hotel is a world renowned Four Star Hotel on the Atlantic Seaboard, and offers it's owners and guests the best of everything including service , with 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 a short stroll to the promenade, beaches and all the coffee shops and restaurants in Sea Point.
All suites in the hotel form part of the hotel's rental pool and cannot be bought out of the rental pool, nor lived in permanently or rented out privately by the owner. Owners can use their 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 R133 527.42 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 from time to time.
An added bonus is that no Transfer Duty or Vat is payable when purchasing in the President Hotel Rental Pool, and is zero rated by SARS.
A great managed property investment and an even better holiday destination.