Vacation Investment Condos
Phase 4
Now Selling
Consider ownership of a hotel condo, and enjoy this luxury waterfront resort as your vacation property. Then consider the advantage of revenue generation through the lease-back of the suite to the hotel when you're not using it and the inevitable value appreciation of oceanfront real estate and you will find this to be a value proposition that is second to none.
- Only 100 Hotel Investment Condominiums are available for purchase
- Exceptional attention to detail with concrete / steel construction, superior finish materials, acoustical engineering
- Majority of condominiums have direct ocean front or Marina views
- Full strata title deeded ownership only (these are NOT fractional or time share condominiums)
- Full access to all of the hotel's five-star amenities and services
- 16 weeks of owner use each year - up to 4 weeks in high season and the balance in fall/winter
- Outstanding guaranteed net returns on your investment from our contracted lease back program
- No monthly or yearly operating expenses (Hotel pays all property taxes, strata fees, utilities, maintenance etc)
*Prices are in Canadian dollars and do not include applicable taxes.
How it Works
- You are purchasing a whole ownership strata-titled condo unit which is a hotel suite. Therefore, as a hotel suite, we are responsible to furnish it, and all hotel units will be furnished in the same way.
- We contractually commit the revenue to you – so you never have to worry about whether your unit is being rented out or even occupied. That is our problem to handle.
- As your tenant, the hotel pays all of your annual property taxes, strata fees, maintenance, insurance, and utility expenses. You do not get a bill for any of those expenses. If the unit is damaged in any way, we are responsible to fix it.
- You can enjoy usage of the unit for up to 16 weeks per year. Between April – October, a maximum of 4 weeks can be used. Between November – March, there are no restrictions on usage.
- You receive revenue every month, except for the times that you occupy the suite yourself (or give it to friends and family to enjoy). If you use it for 2 weeks in January, you will only get revenue for the balance of that month. If you use if for all of November and December, you would not receive revenue for those months.
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The lease revenue flow is heavily skewed to summer, and approximately 90% of the annual revenue is paid between April – October, which is also when the usage is limited to 4 weeks. That is because the hotel peak season occurs during that time and we need the unit available for our hotel guests. Conversely, during the low season (November – May), you receive approximately 10% of the annual revenue. This means that you can use the unit yourself in those months and only minimally impact your revenues.
- Additionally, only when you occupy the unit yourself, you are charged a Daily Utility & Amenity Fee, which represents the “consumable” costs that are paid by us when we are using your unit as the tenant and which are charged to you when you are occupying it. You must also have the unit cleaned weekly during your occupancy, and at the end of your stay, prior to returning the unit for our usage.
When it comes time to sell the unit, you have options available:
- You can sell it yourself
- You can sell it with an agent
- The Hotel will buy your unit back from you on the 5 year anniversary date of purchase for 5% more than what you paid.
Photo Gallery Click on the thumbnails to view photos of our hotel.
