select
|

Strong income return potential fuels demand for Oceans Hotel Apartments in uMhlanga

Most of the 38 elegantly designed one and two bedroom sectional title apartments and penthouses in the new Oceans Hotel Apartments situated from floors 17 to 20 above the 5-Star Radisson Blu Hotel in uMhlanga on the KwaZulu-Natal North Coast have already sold with only six units still available for purchase, reports Carol Reynolds, Pam Golding Properties area principal for Durban Coastal.


 
“This despite being brought to market at the very end of last year (2016) and even prior to the official launch which was held on 3 March 2017. Buyers to date are investors from Johannesburg and KwaZulu-Natal.
 
“This development is selling so well because of its prestige and prime position, with award-winning architecture and a highly appealing mixed-use concept with designer retailers on tap, a medical centre and even a snow park right on your doorstep. And what really clinched the deal for investors are the excellent projected returns.
 
“With units priced from R2.9 million, this is a unique investment product which offers the potential for exceptional daily letting rates and good capital growth.

“The apartments are expected to achieve top dollar, being affiliated with the Radisson Blu Hotel. Comparable 5 Star hotels are charging from R3000 to R11 000 per day, so we expect very good returns. Owners have the freedom to manage their own investments via external agencies or they can tap into the hotel’s services and facilities.”

Adds Reynolds: “We anticipate that the apartments will do well in catering for the corporate sector, primarily for Johannesburg business executives and leisure clients, for KZN business people located in areas like Underberg, the Midlands, Richards Bay, and in the leisure market, for locals who live in outlying pockets in KZN who are seeking a 5 Star holiday experience.  



“In addition, this is an iconic development which has already won Best Architecture and Best Mixed-use Development at the International Property Awards in 2016.”
 
Situated in prime uMhlanga Rocks within a three minute walking distance to the beach, owners will also enjoy access to the Oceans Mall and its array of designer retailers and top echelon restaurants.
 
Other features in the development include full management and furnishing packages which are available to buyers, flexible letting to enable owners’ personal use of the apartment in-between holiday lets, a picturesque panoramic lift for exclusive use by residents, entertainment terrace, swimming pool, luxurious spa, fully equipped gym and a business centre.
 
The completion date for Oceans Hotel Apartments is towards the end of 2018.
 
uMhlanga is also home to The Gateway Shopping Centre, uMhlanga Hospital and Gateway Hospital, prominent schools and a beautiful coastline and well-maintained promenade.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK