Description
Situated high on the hill in Port Vila is this well established and frequented apartment hotel. Ocean View Apartments consists of 24 comfortable and modern studios to 2 – bedroom apartments, offices and 2 x restaurants all with stunning views over Port Vila Bay. In the heart of Port Vila and above Port Vila’s newest shopping center Tanna Russet Plaza, Ocean View Apartments are ideally located for business and holiday travelers makers alike.
Ocean View Apartments are self-contained, have 24 hour security and are fully service. The Lookout restaurant seats 80 people and is leased as a French restaurant. A second small restaurant for 20 people is vacant and ready to be leased for extra income. The property includes 9 car parks, storage and laundry. Ocean View has strong financials and reported a gross profit of 10.5% for FY 2016-17. All this makes Ocean View an ideal investment for the astute buyer.
In addition to the apartments, is development approval for an additional 5 story building plus car parks in the basement next to the existing building on the sale land title. This was granted in May 2017 by council. The building will comprise 40 modern 1 bedroom apartments on 4 levels. On the ground floor level will be a new restaurant, conference rooms, shops and the hotel reception. The total rentable area is approximately 3,250 m2 plus car park.
Ocean View Apartments are well placed in the market, listed with all the wholesalers in Australia, New Zealand, New Caledonia and worldwide with all leading online travel agents. Vanuatu is currently experiencing an economic turnaround with upgraded Port facilities, seafront beautification, road upgrades and the highly anticipated international airport runway and terminal upgrade. Now is the time to invest!
For more information contact Lattitude Property on +678 24022 or email sales@lattitudeproperty.com
