Mak­ing a ho­tel home – not only for celebs

Pub­lic in­vest­ment and de­mand for five-star life­style is on rise in CBD

Weekend Argus (Saturday Edition) - - PROPERTY -

CARE to live the life of crime nov­el­ist Agatha Christie, who spent months in a top-class ho­tel in Cairo, Egypt, writ­ing her nov­els? Or what about walk­ing in the foot­steps of Mar­i­lyn Mon­roe, who made the Bev­erly Hills Ho­tel her home for two years?

Hol­ly­wood stars, writ­ers and fa­mous mu­si­cians have locked them­selves away in some of the world’s fan­ci­est ho­tels for months, years, even decades, en­joy­ing raid­ing mini-bars, or­der­ing mid­night room ser­vice and be­ing served at all hours.

If they were around to­day they would not have had to fork out as­tro­nom­i­cal daily ho­tel rates – they could have bought the suite they loved and truly made it home.

In Cape Town this is a grow­ing re­al­ity, where the fab­u­lous life­style and added value of­fered by ho­tel apart­ments is in­creas­ingly sought by buy­ers look­ing for an ex­clu­sive lockup-and-go life­style in the down­town area.

Al­though in­vest­ing in ho­tel suites is still a rel­a­tively new con­cept, Warren Emett, Alan Screen and JP Rick­etts, sec­tional ti­tle agents for Se­eff City Bowl, say the de­mand is ris­ing. They are gen­er­ally lo­cated in the high-de­mand City Bowl area, with de­mand com­ing both from a res­i­den­tial and rental per­spec­tive.

Move over the Nile Hil­ton and Bev­erly Hills Ho­tel – buy­ers here have their eyes on suites and pent­houses in pop­u­lar lo­cal ho­tels such as the Taj, Radis­son Blu, the Pep­per Club and 15 On Or­ange.

Like or­di­nary apart­ments, these units are zoned as sec- tional ti­tle, but aside from the sta­tus of in­vest­ing in a top­class ho­tel, you also get the se­cu­rity and pri­vacy that comes with this type of pur­chase. The fin­ishes are gen­er­ally of high stan­dards and the suites plush and beau­ti­fully dec­o­rated, of­fer­ing a high level of com­fort, lux­ury and con­ve­nience.

You also get ac­cess to ameni­ties such as se­cure park­ing, a valet and concierge ser­vice, daily news­pa­pers, break­fast and meals, bistro and fine-din­ing restau­rants, bar and cigar lounge, laun­dry and full ser­vic­ing of the unit. Most also have a gym, pool and lux­u­ri­ous spa.

With perks like these it is easy to un­der­stand how the rich and fa­mous suc­cumbed to the al­lure of ho­tel liv­ing. Bil­lion­aire recluse Howard Hghes had a pen­chant for ho­tel liv­ing, as did Hol­ly­wood stars El­iz­a­beth Tay­lor and Paul New­man and singer Mick Jag­ger. (See more right)

Now one does not have to be a bil­lion­aire, fa­mous or ec­cen­tric to live in a ho­tel.

For busy ex­ec­u­tives for in­stance, ho­tels of­fer the per­fect lock-up-and-go. They of­fer busi­ness fa­cil­i­ties and an ideal base for meet­ings, break­fasts and lunches.

“This type of apart­ment is not only an ex­cel­lent cor­po­rate in­vest­ment, it is also ideal for own-use buy­ers who can use it for a mix of busi­ness and leisure. It is, of course, a lux­u­ri­ous res­i­den­tial op­tion,” say the agents.

As an added in­cen­tive, in­vestors can par­tic­i­pate in the lu­cra­tive tourist mar­ket in the city. When not in use, most of these ho­tels of­fer a rental pool to al­low you to tap into the city’s flour­ish­ing tourist mar­ket and short-term rentals.

Re­sale val­ues also tend to be ex­cel­lent, given the high de­mand and cap­i­tal growth in the CBD and sur­rounds.

PIC­TURE: SE­EFF

In Riebeek Street in the CBD, the Radis­son Blu is one ho­tel of­fer­ing a lim­ited num­ber of suites for sale.

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