R 1 450 000 | 1 bed property for sale in century city

Experience comfort in this Deluxe Suite, featuring a king-size bed, separate living area, and an open-plan kitchenette suited for simple meal preparation. Enjoy views over vibrant Century City and the Durbanville Hills, Cape Town’s prime winegrowing area. This air-conditioned suite is approximately 40 m² and includes a work desk with international plug points, telephone, complimentary Wi-Fi, and a flat-screen television. The elegant en-suite bathroom is open plan with a free-standing bath and shower. Bonus small balcony off the lounge. Please note that the banks do not offer finance for this type of investment; i.e. it must be a cash purchase. INVESTING AT COLOSSEUM LUXURY HOTEL In a nutshell….. • Your room is part of a rental pool and you are not permitted to take it out of the pool. • You have the right to have usage of your room for 28 days each year or RCi resort. • If you utilize your room, you come out of the pool for those days. • Owners receive 29% of the room revenue. • The management company is responsible for all costs, which comes out of their 71%. • Owners are responsible for their levies and rates, but the hotel pays them on behalf of the owners. • 10% of the owner’s rental is held back in a kitty for refurbishment projects. • Rental is distributed to owners every quarter. • Owners receive a newsletter every quarter. • The hotel has a few room types, namely deluxe rooms, executive rooms, family rooms, two and three bedroom suites and penthouses. (69 in total) • The hotel has a generator. • The hotel has 50 under cover and 20 open parking bays. Average return just over 5% nett after ALL costs, refurbishment projects; levies and rates etc. And not to forget your 28days free holiday every year; valued at around R70 000!