Apartments at Kyko Group’s $150 million Mon Komo development in Redcliffe are performing well, recording strong occupancy and above average daily room rates in the 2016 financial year.
Situated on the Redcliffe Peninsula, the award-winning mixed use Mon Komo development’s 4.5 star investment apartments managed by Oaks Hotel & Resorts recorded average occupancy rates of 86 per cent in 2016 financial year, according to the developer.
This average occupancy rate is up by four per cent from the previous financial year, when Oaks Hotel and Resorts recorded a strong average occupancy rate of 82 per cent at the Mon Komo, Redcliffe property.
According to the developer, Oaks Mon Komo’s average daily rate is highly competitive, typically $20 higher when compared to Oaks 4.5 star Brisbane properties.
The high occupancy rate is due to the distinctive market position of Oaks Mon Komo as a property of choice for the tourism and leisure clientele as well as the business and conference market, providing strong occupancy all year and negating the impact of low seasons experiences.
The oceanfront Mon Komo development incorporates the investment apartment tower, a residential apartment tower, corporate office suites and the award-winning Mon Komo Hotel offering a functions and events centre, restaurant and a variety of entertainment options.
Mon Komo’s combination of luxurious accommodation, resort-style recreational facilities, state-of-the-art corporate facilities and prime waterfront location in close proximity to Brisbane CBD and the airport ensures it holds its market share, according to the developer.
As a key leisure, business and corporate events destination, Oaks Mon Komo’s strong occupancy rates are more than comparable with Oaks Hotels & Resorts’ well-performing Brisbane property portfolios, demonstrating the consistently year-round high demand for luxury oceanfront apartments in Redcliffe.
Oaks Hotels & Resorts chief operating officer Mike Anderson said Mon Komo investment apartments are continuing to be a popular investment option.
“Oaks Mon Komo investors have the assurance of knowing their assets are being managed by one of Australia’s leading accommodation providers,” he said.
“Investors are provided with an immediate and guaranteed monthly investment return. Investors also benefit from our exceptional two-year performance undertaking agreement, providing owners with a higher return on investment than the permanent rental market.
“With a dedicated on-site management team, Oaks Mon Komo apartments [are] kept to the highest standards through routine cleaning and maintenance.”
Kyko Group director Bill Jenkings said the Mon Komo investment apartments offer an affordable, high quality investment opportunity in an increasingly popular oceanfront region close to Brisbane’s airport and CBD.
“Redcliffe has emerged as the oceanfront investment property suburb to watch in recent years, having transformed into a cosmopolitan seaside village with a thriving coffee culture, restaurants, bars and boutique shopping along a streetscaped esplanade,” he said.
“The Australian love affair with oceanfront property continues and Redcliffe’s positive outlook and rising property market is increasingly gaining the attention of savvy investors.
“Prices for Oaks Mon Komo’s quality apartments start from $295,000 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 (58 square metres) to three bedroom dual key (170 square metres) configurations.”
Mon Komo investment apartments are available in a range of one-, two- and three-bedroom configurations, with a modern coastal-inspired décor, fully-equipped kitchens with stainless steel appliances, open-plan living areas, laundry facilities and large balconies offering stunning ocean views.
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.
A new $1.15 billion dual-track rail link connecting the Redcliffe Peninsula to the Brisbane CBD is currently under construction.