Investment properties at Kyko Group’s $150 million Mon Komo development are performing well, following the announcement of strong occupancy and room rates in the first quarter of 2015.
The award-winning mixed use Mon Komo development, positioned on the Redcliffe Peninsula, recorded average occupancy rates of 82 per cent from January to March at its 4.5 star short stay apartments, professionally managed by Oaks Hotels and Resorts.
Standing ocean-front, the Mon Komo development incorporates the short-stay Oaks apartment tower, a residential apartment tower and one of Queensland’s best beachside hotels, offering convention and function areas, a restaurant and a variety of entertainment options.
Mon Komo’s state-of-the-art facilities and prime waterfront location in close proximity to Brisbane continues to attract both the leisure and corporate markets consistently throughout the year.
Testament to the popularity of Oaks Mon Komo as a key leisure, business and events destination, the property’s strong occupancy rates surpassed Oaks Hotels & Resorts’ well performing Brisbane property portfolio by five per cent over the same three month period, emphasising the high demand for luxury oceanfront apartments in Redcliffe.
As a result Oaks Mon Komo apartments are continuing to be a popular investment option, with owner investors earning up to seven per cent gross yield of the apartment purchase price under Oaks Hotels & Resorts management.
The average nightly room rate over the past 12 months reached $171.26, with the peak season average during November and December recorded at $254 per night.
Oaks Hotels & Resorts Manager of Owner Contracts Scott Cunnington said Oaks Mon Komo investors can be confident their assets are being managed by one of Australia’s leading accommodation providers.
“We provide investors with an immediate and guaranteed investment return, which is paid monthly and is based on the apartment type, quality, location and prevailing market conditions,” Mr Cunnington said.
“We also offer a unique two-year performance undertaking agreement, which provides owners with a higher return on investment than the permanent rental market,” he said.
“Once a purchaser places their investment apartment in the property’s short-term letting pool, we will ensure it is maintained to the highest standards, with regular cleaning and routine maintenance scheduled and carried out by Oaks Hotels & Resorts.
“Purchasers also have the opportunity to enjoy stays in their apartment at their leisure.”
Developed by Kyko Group, the Mon Komo property boasts spacious, coastal-inspired hotel rooms and apartments in a range of one, two and three bedroom configurations, featuring modern décor, fully equipped kitchens with stainless steel appliances, open plan living areas, laundry facilities and large balconies – many offering unparalleled ocean views.
Kyko Group director Bill Jenkings said the development appeals to buyers because it represented an affordable, quality investment opportunity in a growing oceanfront region close to Brisbane’s airport and CBD.
“The package on offer at Oaks Mon Komo is a major drawcard because it is a quality development in a prime location offering everything people need for business or leisure, including conference and event facilities, entertainment and dining, swimming pool and gymnasium, and it will continue to attract high occupancy,” Mr Jenkings said.
“Oaks Mon Komo is a short drive to Brisbane’s CBD and domestic and international airports, has a growing population base at Redcliffe and will benefit from the growth of nearby emerging suburbs,” he said.
“In recent years Redcliffe has been rejuvenated as a cosmopolitan village, complete with a streetscaped esplanade incorporating a stylish lagoon where locals laze on summer days, enjoying the ocean views and sea breeze.
“But the best thing is Oaks Mon Komo sits right on the ocean and the view is magnificent.”
Prices for Oaks Mon Komo’s quality apartments start from $285,000 and they are available to buy now for an immediate investment return starting at $345 per week.
Oaks Mon Komo’s short stay investment apartments are fully furnished and range from one bedroom (58sqm) to three bedroom dual key (170sqm) configurations.
Situated at 99 Marine Parade, Redcliffe, Mon Komo is easily accessible to major urban environments, being just a short drive to Brisbane’s CBD, with convenient access to Brisbane Domestic and International Airports.
Information supplied by Louise Carroll Marketing