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£32,437 / 1 bedrooms / Egypt, Hurghada
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Property ref: 456 / Property Price: £32,437 / Property Type: Apartment /
Bedrooms: 1 /
Location: Egypt, Hurghada / Plot Size: 28.3 / Build Size: 32.6 / Contract: Freehold
Description:
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Guaranteed 6% (Net) Rental return for 5 years!!!!!
40% Deposit
Whilst continuing our focus on Hurghada in Egypt as an area that we believe offers massive capital growth potential over the next few years, due to its increasing emergence on both the tourism and overseas property markets, PropertyGem has identified a fantastic beachside resort project that has already been built and offers a guaranteed 6% (net) rental return for 5 years, meaning no maintenance fees, management costs and the hassle of renting!!!!
The Marlin Inn Resort is situated on the shores of the red sea and outside the hotel there is a large promenade with a variety of restaurants, cafes and souvenir shops, with the centre of Hurghada a 5 minute taxi ride. With its location, a competitive, staged payment plan and four weeks personal usage a year, this beach side resort boasts a superb investment opportunity. As well as the guaranteed rental yield, as the room rates increase per year, so will the capital growth of the property value. This increase in room rates is fuelled by the high growth in tourism numbers year on year for Hurghada.
The Marlin resort is one of the only projects of its kind in Hurghada and we believe it will be very popular to investors particularly given the uncertainty in the current financial market place. As the hotel is built there is none of the development risk traditionally associated with overseas projects. The resort has been in operation for some years, and is currently being refurbished to a very high standard, with facilities including pools, restaurants and a water sports centre. Investors can see the track record of revenue generation from the resort and its previous, and future anticipated high occupancy rate of over 75%.
Key Features:
- 6% (Net) rental guarantee for 5 years, no maintenance fees / other costs
- Investment from as little as ?12,974 (40% deposit)
- High quality refurbishment to be completed by end Oct 2008 to bring hotel up to 4* standard
- 4 weeks personal usage per year
- Hotel already built so no development risk
- Developer finance available
- Large well known and respected hotel owner / operator
- Fantastic location beach side
- All rooms fully furnished
- Facilities include pool, all-inclusive restaurants and an aqua centre
- High annual growth in tourism figures for Hurghada with an average occupancy of 85% per hotel
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These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Intending purchasers must rely on their own inspection of the property. None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment. The price in UK pounds is indicative, and may vary according to exchange rates at the time of purchase.
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