 Ermita, Gata de Gorgos, Spain Ermita features 9 x two bedroom apartments with an average size of 65 Sq Mt. Located 10 minutes from Denia in Gata de Gorgos, where the 18 hole La Sella golf course is situated, and only 15 minutes from the 18 hole Oliva Nova championship golf course designed by Severiano Ballesteros, these superbly designed apartments are also just a short drive from many soft white sandy beaches. Light and airy, each of the apartments is spacious and extremely attractive and ideally situated on the edge of the town within easy walking distance to all the local amenities.The list of qualities for each apartment includes pre-installation of hot and cold air conditioning; Roca bathroom fittings; fitted kitchen with stainless steel sink, electric oven, electric hob and extractor, drainage for washing machine and dishwasher; Climalit glass on windows. The whole of this development will consist of a total of 12 apartments –3 of which are being retained by the developer and 9 offered to Investors Provident clients. All apartments come with generous space allowing the living area to be light and airy. Combined with a striking modern façade, some apartments also have their own private roof terrace. The introductory prices for the apartments are extremely attractive, and with an initial 80% finance package, and a rental guarantee for 9 years, they are perfect for all investor brackets. Investment Highlights - Investors can buy into the option of a 9 year rental contract, without any premium being added on top of the selling price
- The rental contract will pay a 6.36% net yield on the original asking price. For example, a 2 bedroom property purchased at € 149,900 will yield € 9,534 per year for 9 years. A total of € 85,803 will then benefit the investor over a 9 year period
- The developer will assume control of the apartment for a minimum period of 48 weeks from completion, every year
- Each investor will have use of the property for 4 weeks in the off peak seasons between October – March by arrangement
- Rental income will be upwardly reviewed after the first 3 year period from the completion date
- Investors are free to sell each apartment subject to the 6 months notice period as stated in the rental contract
- A reservation sum of € 3,000 would be required to take the property off the market. An initial 10% would be required to exchange contracts within 21 days, with a further 10% payable in 3 months
- Prior to completion, properties will be re-valued by the bank and all signs indicate an excellent potential of a 15- 20% increase in value during the build period enabling the property to be essentially up to 100% financed
- Bank guarantee on all apartments is provided at no extra cost – a significant insurance for each investor
Note: As the development is very much off plan, an artists impression is not yet available. Key facts - Unit types 2 bed apartments
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