NEW DYNAMIC DEVELOPMENT ON LONG BEACH FOR SALE.
The land whereupon the building is situated is approx 1500 sqm in size.
Although +-5Ha of the surrounding lands is included in the project and belongs to the Municipality but will have to be confirmed.
The land towards the beach including the Jetty and the Tidal pools also form part of this arrangement.
The Complex consists of 12 floors, each comprising two luxury units. Thus a total of 24 high-quality Penthouse-style apartments. The ground floor is earmarked to house the 24-hour security office as well as an upmarket Restaurant.
A very well-known and popular restaurant in Walvis Bay provisionally booked the floor space for this venture. Some alternations such as the positioning of cool rooms etc have already been incorporated in the ground floor planning.
All units and finishing are high standards and each unit will be fitted with a Jacuzzi as well. Each unit offers a 360* view over both the ocean and dunes.
Access to the building is for occupants only, and a special code on the owner's cellphone will provide secure access to the building by means of two lifts depositing occupants inside their units.
The rooftop deck features a water bar and a rotating viewing platform (rotating 360* every hour) and is strictly for use by owners and their guests.
Three floors underground (garages and storerooms as well as a generator room for standby generator) are already completed as well as two floors above ground.
The contractor on the job is of a high standard.
We would recommend that they complete the project, since they are familiar with each phase of construction since inception, They also maintain the building at the moment with maintenance to the steel structures. The professional team will immediately resume duties to ensure timeous completion over an envisaged 18 months
All the necessary documentation such as licenses, approvals, letters of authority, and the latest upgraded Bill of Quantities are available to the potential investor. ( It is interesting to note that a potential investor will immediately qualify for a Namibian resident permit due to the amount invested in the project)
We have about 6 potential buyers for the units but we will only start taking deposits when work is resumed on phase 2 of the project.
The total cost of the project: 180mil.
The Seller has already invested 40mil of his own funds and he wishes to retain a 25% shareholding. It is always a good sign when the developer is keen to stay on the project indicating that there is no hidden agenda.
He is however prepared to sell 100% of his interest should the potential investor so desires. He will also stay on as advisor since he knows the building and everyone involved in the project.
Indications are that the profit to the investor once all units are sold to be in the region of 100 million SAR
This opportunity is the last of it's kind at the Namibian coast!!