Romney Park - Secure residential estate in Green Point
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.
As an investment:
The on-site professional management team also offers assistance with short-term or long-term rentals on your behalf.
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 601
- 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.
