Description
I am pleased to present you with a very unique opportunity in Jumeirah Village Circle - this is a deluxe hotel apartment building that has 14 floors of residences, 4 parking floors and a rooftop. This is a fairly new building as well, with construction being completed in Q2 2021. It features high-quality marble finishes throughout.
Other key elements of this fantastic tower include a stunning outdoor pool, a spa, a kid's pool, a juicebar (which could be licensed), shisha, a gym, a restaurant, a sauna (his & hers seperate), a business centre & prayer rooms on the ground floor, plus a retail giftshop, cafe and pharmacy in the lobby. This is a one-stop destination for families to come and enjoy premium accomodation and service.
This is currently operated as a dry hotel (i.e., no alcohol), but due to the unique rating of the building - it is only one of 6 hotel apartment buildings in Dubai to be rated as such - an alcohol license can be obtained if desired. The current owner has agreed to obtain the license prior to purchase in such a case.
There are 112 rooms in the building, which are divided into - 66 studios with balconies (standard at 400 sq ft and premium at 650 sq ft), 40 one-bedroom apartments with balconies (915-970 sq ft from standard to premium), and 6 two-bedroom apartments with balconies at 1,180 sq ft.
The building offers 144 parking spaces over 4 podium levels - the additional parking ensures that there is ample space for guests of the hotel restaurant and any possible bar scenario.
The leasing structure of the building is currently split between short-term and long-term leases. The former is on a weekly or monthly basis, while the latter comprises 6-month and annual contracts. The weighting of the leases changes depending on seasonality and demand to maintain high occupancy and revenue efficiency. The building has kepy 99.5% occupancy from November through to date.
Contact me now for further information & to arrange a viewing as this will not stay on the market for very long.
