HOLIDAYMAKERS HEAD TO REDCLIFFE
Written on the 10 July 2015
DEVELOPER Kyko Group has recorded a solid occupancy rate for its investment apartments at Mon Komo in the first quarter.
Managed by Oaks Hotels and Resorts, the Redcliffe Peninsula property averaged 82 per cent occupancy in short stay rooms.
The result surpassed the brand's Brisbane portfolio by five per cent during the same period.
Oaks Hotels and Resorts manager of owner contracts Scott Cunnington says the location appealed to the leisure segment of travellers.
"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," Cunnington says.
"We also offer a unique two-year performance undertaking agreement, which provides owners with a higher return on investment than the permanent rental market."
The average nightly room rate over the past 12 months reached $171.26, with the peak season average reaching $254 per night in November and December.
Kyko Group director Bill Jenkings (pictured) says the development appealed to investors because it offers oceanfront living, while remaining close to Brisbane's amenities.
"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," Jenkings says.
"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."