Full launch of Sahara Beach & Spa – RT6

[fuzzbear]

Le Jardin de Fleur has now fully launched RT-6 - Sahara Beach and Spa Resort. This project came to the market as a pre-release in March. Based on early negotiations with a selection of five star hotel operators, Property Logic has decided to place a minimum guaranteed rental return of 4 % gross revenue per annum for three years. However, calculations predict a much higher return, especially after the first year.

The minimum guaranteed return is in addition to the estimated rental yield for the properties which is forecast as to be between 7-11%. The additional rental guarantee is intended to ensure investors’ confidence in the prospect that should they choose to obtain a mortgage (60% of contract value)- it would be easily covered for the first three years of resort operations.

The chosen hotel group to operate the Condo-Resort will be announced later in the year.

 

[moroccomania]

Hey fuzzbear

Do you know what kind of prices we're talking about, and whether the project is in phases?

Thanks
MM

 

[fuzzbear]

Yo MM,

Pre-release of 1 and 2 bed apartments on a beachfront resort (RT-6) within the exclusive Mediterranea Saidia resort start from around £80,000.

As the development consists of 3 golf courses, I guess it will be a phased development with the whole completion being around 2009 / 2010 - at this point when the full Saidia resort is finished.

Fuzzy

 

[moroccomania]

Hey fuzzy

From what I've read somewhere else (don't remember where....I think an agent's website),it seems like these are not really front line as there is a hotel or another building in front of these units......do you know if that's the case?

Because if that is the case, then £80k starting price is quite expensive, even if it is saidia. No front line views and stuck behind another building....not really saidia style...

MM