A luxury hotel is to be developed at Century City - at a cost of R85m - by the Singer Group.
Leon and Brian Singer say they have acquired the two top floors of the mixed-use Colosseum development, now under construction, to house the hotel.
The two floors had initially been earmarked for 40 residential apartments but have now been redesigned and reconfigured to create the luxury all-suite hotel five minutes' walk from Canal Walk Shopping Centre.
Hotel guests will also have easy access to the cafes, restaurants and boutique shops that will occupy the ground floor of the Colosseum, which will also house three storeys of offices.
The Colosseum Luxury Suites is the second hotel to be developed by the Singer Group at Century City.
It follows the Island Club Hotel, which opened three months ago.
As with Island Club, suites in The Colosseum Luxury Suites are available for sale to investors.
Ranging in size from 40m² to 65m², they can be acquired on sectional title for between R950000 and R1,5m.
Penthouse suites, which vary in size from 88m² to 183m², are priced at between R2,1m and R4,7m.
The rental income will be guaranteed for the first two years.
Business Day
Publisher: I-Net Bridge
Source: I-Net Bridge
