3 bedroom apartment Tranquilia Town Apartments Hurghada, Egypt
Asking price of GBP £52,030
Ref: Tranquilia Town Apartments
3 Bedroom(s), 2 Bathroom(s) |
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EGYPT’S FIRST PURE "DOMESTIC" BUY TO LET OPPORTUNITY - Tranquilia Town Apartments, the most promising buy to let opportunity available to investors, it is a prestigious residential development in an imposing circular building consisting of sixty-five apartments set over five floors in central Hurghada (new town) on the Red Sea Riviera.
THE OPPORTUNITY
Landmark residential apartment block in prime central Hurghada location.
Hurghada is Egypt’s second largest Red Sea tourist centre (behind Sharm El Sheikh).
In 2006 the region attracted some 250,000 international and domestic tourists.
All year round rental opportunities: ideal location and facilities to capitalise on stable residential rental market (e.g. managers of local hotels), therefore significantly reducing risk of ‘rental void’ periods.
Zero non construction risk - development completed. Pay off plan prices (due to substantial refurbishment) that are ready for occupation six months from date contract is signed.
Relative value in respect of price: apartment available from £470 per square metre. Comparable developments in Sharm El Sheikh are circa 30% more expensive.
Very high specification apartments built to European standards with upper floors benefiting from panoramic views of Hurghada and direct Red Sea views.
An established developer has owned the landmark building since its construction in 1996; they are currently refurbishing the apartments to European standards. One, two and three bedroom residences are available for investors. The development is set one row back from the sea and amongst a cluster of hotels. The locality is extremely well served by buses, taxis and ferries, and all local attractions/amenities can be easily reached. The International Airport is just a short taxi or bus ride away, whilst Cairo lies around 450km north.
KEY SELLING POINTS:
Less than 5km from Hurghada International Airport
All relevant due diligence undertaken
Favourable tax jurisdiction for foreign investors
Estimated rental yield of 8%+
COMPLETION DATE 6 months from signing contracts/Exchange of contracts
The apartments are finished to an exceptionally high standard
There are direct sea views from some apartments
COMPLEX FEATURES:
24 hour reception and security
Room service will be available
Air conditioning
Satellite TV
Dishwasher, microwave, fridge, washing machine and direct dial phone included
Wireless internet access (for a small fee)
Roof top Jacuzzi and bar
Sun lounging area
Management Services by Nilotica PM
More property photographs
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