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A new "keep it simple" formula of "crash pads", small state of the art down town studios for those who want a very compact and affordable down town "pad", similar in concept to a ski studio.
Regency Crash Pads is a unique development specifically targeted to the large
number of divers using Hurghada as a base for exploring the Red Sea, making
this an excellent investment for the rental market and personal usage.
The development offers 44 Crash Pad apartments featuring a double folding bed unit,with a bathroom and kitchenette.
Features
• Development designed especially for Divers.
• Low cost investment with high rental yields.
• Access to all other Regency projects in the area with a range of facilities.
Location
Located in the El Kawsar region of Hurghada with a beach 600 meters from the Crash Pads location; it is also well placed for the new Esplanade in Hurghada which boasts numerous cafes, shops, hotels and restaurants.
Reasons to buy:
• 12 month climate with long and short term letting potential.
• Freehold property.
• A booming tourism industry, with numbers having doubled between 2002
and 2006.
• Tourism predicated to increase at rate of 6% per year.
• Opportunity to invest early in a vibrant market.
• Situated on the Red Sea - recently voted best diving destination in the world.
• Low cost living, maintenance and management costs.
• No inheritance or capital gains tax.
• Currently accommodation demand in the area exceeds supply.
• Hurghada, a vibrant town - with un-spoilt Egyptian culture combined with a modern feel.
• Tourism growing due to the increase in low cost airlines flying direct to
Hurghada.
Owners of Regency Crash Pads will also have the exclusive use of the Regency
developments facilities, which offer a range of facilities including several
eateries; a snack bar, Japanese Teppanyaki Restaurant, sushi bar, piano bar,
Italian restaurant and a supermarket.
Const ruct ion Schedule
Regency Crash Pads is due for completion during July 2009.
Facilities and Maintenance
The maintenance of the development will be managed by the developer and is charged at £5 per square metre per annum.
• Every apartment has a free scuba locker.
• 24/7 security.
Property Management
A complete property management service will be offered to every buyer and the cost will be 15% of the rental income gained. This service will be managed in house by the developer.
Immediate Vicinity
HURGHADA
Hurghada offers something for everyone, you can spend time in the
enchanting markets in the old town district. Alternatively you may want to take
advantage of the fantastic water sports on offer, or the contemporary night life
in the new town which boasts high end nightclubs such as London’s famous
Ministry of Sound and Budha bar franchises. Hurghada is one of the best
known resorts on the Red Sea Riviera. It was Hurghada was founded in the
early 20th century, and since the 1980s has been continually enlarged by
American, European and Arab investors to become the leading seashore resort
on the Red Sea. Holiday villages and first-class hotels provide excellent aquatic
sport facilities for sailboarders, yachtsmen, scuba divers and snorkelers.
Hurghada stretches for about 40 km along the seashore. Hurghada has become an international centre for aquatic sports like windsurfing, sailing, deep-sea fishing, swimming, and above all snorkeling and diving. The unique underwater gardens offshore are some of the finest in the world, justifiably famous amongst divers. The warm waters here are ideal for many varieties of
rare fish and coral reefs, which may also be observed through glass bottom boats. The city provides a gateway to prime diving sites throughout the Red Sea. Its central location provides favorable access to very famous dive sites. In addition, Hurghada is known for providing access to many uninhabited
offshore reefs and islands.
A free shuttle bus will connect the Regency Crash Pads with its sister development, Regency Towers and the private Dream Beach, both of which are only 10 minutes away.
* UK developer
* Just 500m from the beach
* Large rooftop terrace
* Free shuttle bus service linking Regency Crash Pads with Regency Towers
allowing access to this development's large swimming pools and 24 hour/day
private medical clinic
* Free shuttle bus service linking Regency Crash Pads with the private Dream
Beach
* Centralized satellite television
* High speed Internet to all apartments
* Public reception area
* 24 hour security
* Full management service available
Prices:
Studio prices start from £18.475
to £20.760 for 37m2
Payment Schedule
• £1000 initial reservation fee (refundable)
• 50% is due on exchange of contract
• 20% four months following initial deposit
• 20% eight months following initial deposit
• 10% upon completion
Additional costs: Please count £2995 for a full furniture pack, payable on completion.
Completion of Regency Crash Pads is scheduled for July 2009.
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