Property developer Kyko Group has released performance figures for investment properties at its $150 million Mon Komo development in the bayside Brisbane suburb of Redcliffe.
According to Kyko, Mon Komo recorded average occupancy rates of 82 per cent from January to March for its 4.5 star short stay apartments, which are professionally managed by Oaks Hotels and Resorts.
Standing ocean-front, the Mon Komo development incorporates the short-stay Oaks apartment tower, a residential apartment tower and a beachside hotel.
Kyko said the property’s occupancy rates surpassed Oaks Hotels & Resorts’ Brisbane property portfolio by five per cent over the same three month period, emphasising the high demand for luxury oceanfront apartments in Redcliffe.
Kyko said owner investors earn up to seven per cent gross yield under Oaks Hotels & Resorts management.
The average nightly room rate over the past 12 months reached $171.26, with the peak season average during November and December recorded at $254 per night.
Oaks Hotels & Resorts Manager of Owner Contracts Scott Cunnington said Oaks Mon Komo investors can be confident their assets are being managed by one of Australia’s leading accommodation providers.
“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,” Mr Cunnington said.
“We also offer a unique two-year performance undertaking agreement, which provides owners with a higher return on investment than the permanent rental market,” he said.
“Once a purchaser places their investment apartment in the property’s short-term letting pool, we will ensure it is maintained to the highest standards, with regular cleaning and routine maintenance scheduled and carried out by Oaks Hotels & Resorts.
“Purchasers also have the opportunity to enjoy stays in their apartment at their leisure.”
Mon Komo was developed by the Kyko Group in 2011.
Prices for Oaks Mon Komo apartments start from $285,000 and they are available to buy now for an immediate investment return starting at $345 per week.