Romney Park

From R 2 990 000 to R 15 750 000

8 Unit Types Available

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BESPOKE - SECURE - LUXURY APARTMENTS

ROMNEY PARK - GREEN POINT

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

Only 15 apartments still available.

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

Features

• 24/7 CCTV cameras, electric fence, intercom access

• On-site reception and concierge desk

• Outdoor swimming pool

• Boardroom facilities

• Clubroom serving selected meals

• Cocktail bar

• High speed internet connection

• Full back up generator during load shedding

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.

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