4.9
hectares of land within the Sutera Harbour Resort complex
has been sited for The Vista condominium
project.
The
Development comprises 8 blocks of condominiums and 1
block of beachfront townhouses, with a total of 448
units. The condominiums consist of 1-bedroom units (1,200
to 1,600 sq. ft.) and 2-bedroom units (1,730 to 2,800
sq. ft) and 3-bedroom units (3,000 sq. ft.). The 4 residential
townhouses are 3-storey semi-detached units, 8,000 to
10,000 sq. ft.
Amenities
within the development include a luxurious central clubhouse,
business center, reading room, television room, housekeeping
services, convenient mini mart and café, sculptured
swimming pool and Jacuzzi, landscaped gardens, children’s
playground, BBQ pits, communal activity ground, secured
private lobby (with Proximity Card and Video Intercom
Systems), basement car-park with private lift lobbies,
and a private waterfront promenade and direct access
to a sandy beach.
The
condominium complexes will be designed to target the
investor market (local and foreign). Purchasers of The
Vista condominiums are given an option to participate
in a minimum seven-year leaseback program with Sutera
Harbour Resort. The condominiums will be entered into
a rental pool, increasing the available rooms inventory
of Sutera Harbour Resort, and the hotel will be solely
responsible to market, managed and occupy the property
with tourists and long-term visitors to Kota Kinabalu.
The Hotel will undertake to provide the condominium
owner a 9% annual return on the purchase price of the
unit in conjunction with the leaseback agreement. Purchasers
will have the option after seven years to renew the
leaseback agreement with the hotel management, incurring
refurbishment charges amounting to 10% of the original
Sales & Purchase agreement, yet securing the 9%
annual return for the additional 7-year term. The leaseback
agreement will be valid for a maximum of 21 years, or
three seven-year terms.
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