The Singer brothers are marketing the Island Club Hotel through Pam Golding Properties, and there are already buyers for 14 of the suites.

The hotel will have 23 luxury suites, made up of 20 studio suites and three one-bedroom suites. The suite areas will range from 40m² to 93m², and the suites are being sold for R745 000 to R1,5m.

Protea Hotels will operate the hotel. The Singers have had a relationship with Protea for seven years at the Dolphin Beach Hotel, one of the companies in the Singer Group.

Once a purchase is made, it will be obligatory for the owner to put his unit into a rental pool to be run by Protea Hotels.

This, says Brian Singer, will result in owners receiving regular returns on their investments. For the first three years this is guaranteed by the Singers at 5% a year.

All 445 owners of units at the Island Club will also be able to pool their units in the Protea rental and management pool.

Business Day