With over 120 apartments already reserved, E1 offers its occupants a range of hotel style services and is geared for modern day living. Highly suited to landlords seeking solid yields and minimum hassle. Each apartment is sold on a 150 year lease from 1 April 2019.
All E1 apartments are delivered fully furnished and equipped (including towels, sheets, pots, pans, TV, crockery and toaster) ready to occupy immediately. The development includes a Wellness Spa and Health Club (discounted prices for E1 occupants), plus dry cleaning services, co-working area on the first floor and restaurant. Room service will be available for food and dry cleaning (within certain hours and paid for by the occupant / tenant).
Located near to the new entrance and exit to Gibraltar, close to Eastern Beach and walking distance from the airport, Ocean Village and Casemates, each apartment may be used for owner occupancy, long term let or AirBnB short term style let as the owner dictates. Our previous blog on short let accommodation as an asset class is quite relevant. http://www.chestertons.gi/blog ew-asset-class-short-let-accommodation-239
There is also a provision for the rental of car, moped and bicycle spaces plus there will be a car club for shared usage of vehicles for short term hire at the renter's expense.
All apartments are minimum 30 sq metres thus meeting NatWest's current mortgage criteria.
The purchase of an apartment includes payment terms of 2.5% reserve, 20% exchange, 7.5% 4 months after exchange and 70% on completion.