An opportunity to own a fully furnished and equipped 2nd-floor front-facing 1 bedroom, sectional title suite in the prestigious President Hotel Rental Pool in Bantry Bay, one of the most sought after hotels and holiday destinations in the Western Cape. The hotel is perfectly positioned on the Atlantic Seaboard close to Clifton, Sea Point, the promenade, and all the lovely coffee shops, restaurants, and supermarkets in the area. The President Hotel is a luxurious Four Star Hotel and offers its owners and guests the very best of everything, such as a members lounge, free wi-fi, a stunning pool, and entertainment area, kids play area, restaurants, bar and lounge, beauty salon, a gym, curio shop, 24-hour room service.
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 nor 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 the end of December 2019. The monthly share of net profit will vary from month to month based on occupancy levels and profitability of the hotel. There is no Transfer Duty or Vat payable by the purchaser when purchasing and transactions are zero-rated by SARS.
Enjoy Cape Town from the luxury of the President Hotel, and buy your very own unit now.