Development Romney Park

ROMNEY PARK - GREEN POINT

Priced from R2.990 Million to R15.750 Million (Incl. VAT) No Transfer Duty

Romney Park, a historical 5-star hotel, is being refurbished into 26 luxurious sectional-title apartments where modern interiors meet traditional architecture. Situated in the highly sought-after Atlantic Seaboard, these spacious apartments are ideal for owners seeking private and secure Cape Town living. Romney Park has a reputation for excellence, making it an ideal choice for buy-to-live, or for investment income via a variety of rental options.

Romney Park is perfectly situated in a quiet, affluent street in Green Point. Here on Cape Town's Atlantic Seaboard, Romney Park is one of the area's architectural gems.
Nearby attractions include:
Sea Point Promenade 1.7 KM
Cape Town Stadium 1.3 KM
V&A Waterfront 2.2 KM
Clifton and Camps Bay beaches 5.6 KM
Short drive or walk to Virgin Active gym 1.5 KM
Walking distance to Tennis courts 1.1 KM and close to MyCiti bus stops, shops, and restaurants. 0.7 KM

As an investment

The on-site professional management team also offers assistance with short-term or long-term rentals on your behalf.

Available:
- 1 Bedroom Apartments
Furnished, sea facing
Private North facing terrace
En-suite bedroom, open-plan lounge and dining area, kitchen
Air-conditioning, on-site parking bay, storeroom

- 2 Bedroom Apartments
Furnished, sea facing
Private North facing terrace
Open-plan lounge and dining area, kitchen
Second bedroom, bathroom
Air-conditioning, 2 on-site parking bays, storeroom

- 3 Bedroom Apartments
Furnished, ocean facing terrace
3 Bathrooms
Air-conditioning, 2 on-site parking bays, storeroom

Deluxe Apartments:
- Deluxe 104
Ground-floor furnished 3 bedroom
3 Bathrooms
Large deck and garden area, private plunge pool
Air-conditioning, 2 on-site parking bays, storeroom

- Deluxe 610
Furnished, deluxe 2 bedrooms
2 Bathrooms
Private rooftop garden, jacuzzi
Air-conditioning, 2 on-site parking bays, storeroom

An attractive return

The option of buying an apartment, and renting it out as a serviced holiday or corporate-stay apartment through the on-site hospitality management company, The Stay Collection, is proving increasingly popular. This provides financial returns for the owners, not least because Romney Park was previously a five-star luxury hotel that had built up a formidable repeat-customer base, managed by the same team that now owns and runs The Stay Collection.

Actual Average Group Occupancy for the last 12 months = 72.57%
(December 2018 - November 2019)

1 BEDROOM APARTMENTS
Average Occupancy Rate = 77.1%
Average monthly revenue = R34,026 p/m Incl. VAT
Potential ROI = 13,6%

2 BEDROOM APARTMENTS
Average Occupancy Rate = 75,9%
Average monthly revenue = R45,170 p/m Incl. VAT
Potential ROI = 9,3%

3 BEDROOM APARTMENTS
Average Occupancy Rate = 53,6%
Average monthly revenue = R42,476 p/m Incl. VAT
Potential ROI = 6,4%

*Figures exclude 25% Management Fee and recharges.
*City of Cape Town Rates and Body Corporate Levies still payable.
*Owners usage 21 days per year.

Registered with the PPRA