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.

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