Five-year Guaranteed Fixed Return offer for owners of the Hemingways Residences in Watamu
Hemingways Collection has rolled out a five-year Guaranteed Fixed Return offer for owners of the Hemingways Residences in Watamu which are now fully complete and ready for sale.
The offer guarantees a return of 7% per annum on the USD purchase price including service charge, for five years, which results in 8.5% rental yield per annum and an effective 33% discount rate on the sale price of the properties.
The Hemingways Residences comprise of 21 one, two and four bedroom apartments located within the five star Hemingways Watamu hotel. Styled with contemporary grace and panache, each Residence has been planned to make optimum use of panorama and light. The colour palette is inspired by the turquoise sea and silver sand, the living areas flow uninterrupted from open-plan, state of the art kitchen arenas to panoramic seating areas and equally effortlessly out onto the broad sweep of the wide-vista verandas. They truly offer the ultimate in indoor/outdoor living. Their prices range from KSh52.5 million to KSh150 million.
According to the 2019 Knight Frank Wealth Report, Kenya has emerged as a highly sought destination for holiday homes by the global rich. It says that among the global High Net Worth (HNW) population, four percent would like to own homes in Kenya – most notably Britain’s wealthy people 63 percent of whom expressed interest in a Kenyan property.
Hemingways Collection is looking to tap into this segment including the Kenyan and East African high-net-worth individuals.
In the report, wealth managers and advisors said 39% of their clients have property investments in the country while up to 18% made additional property investments in 2018. In addition, 29% of HNW individuals are looking to invest in the country’s property markets in 2019/2020.
The five-year Guaranteed Fixed Return Offer will entail the signed-up apartment being included in Hemingways Watamu room inventory.
“Owners wishing to take advantage of this exclusive investment opportunity will enter into a short term lease agreement, essentially leasing the apartment back to Hemingways Watamu Limited for the five year term,” explained Hemingways Collection Operations Director Mr. Ross Evans.
Owners will be entitled to 15 complimentary nights in their apartment per annum between mid-April and mid-December and a further 50% discount on the prevailing rack rate.
Besides this, owners will be able to enjoy other benefits with exclusive privileges throughout the three Hemingways Collection properties. These include significantly discounted rates at Hemingways Nairobi and Hemingways Ol Seki Mara, discounts on F&B items and spa packages and use of private travel services from Express Travel Group, a market leading Travel Management company and subsidiary of Hemingways Holdings.
‘’We are committed to delivering a unique and memorable hospitality experience for our home owners encompassing the very best services that the Hemingways Hospitality group offers,’’ added Mr Evans.