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Apartment For Sale in BANTRY BAY

Bantry Bay

Property Description

The famous President Hotel in Bantry Bay. Fully renovated as a building. Take the opportunity of owning an amazing studio unit with sea views/mountain combinations.
Fully furnished with small fridge and a microwave.

The hotel has a beautiful communal swimming pool, entertainment area, gym, restaurants, spa, conference facilities, members’ section and business lounge. Safe parking available on the hotel premises.

The building is close to Sea Point and all the beaches, cafe and restaurant lifestyle. A hundred meters from a small semi private beach.

Useable for 30 days a year (in any time denomination you choose. No accommodation costs save for daily cleaning and service fees. For 11 months the owner shares 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. The income varies around R55k per year.

No Transfer Duty payable (zero rated by SARS) or VAT payable which makes this a five star managed property investment. The apartment cannot be lived in permanently nor bought out of the hotel rental pool or rented out privately by an owner.

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