1 Bedroom Apartment For Sale In Belém, At Hyatt Regency Lisboa

1 bedroom flat for sale in Belém, with a privileged location in front of the Tagus River and inserted in the luxurious Hyatt Regency Lisboa development.

T1 - From 900.000€ to 950.000€
T2 - 1.150.000€

Tourism Exploration Agreement administered under the Hyatt Regency brand, part of Hyatt International Corporation, for a period of 20 years, renewable for periods of 5 years.

Guaranteed minimum return - 2 Options
a) 5% for the first 5 years
(b)3% for the first 10 years

Owner Use - Use of the property by owners up to 4 weeks per year, with a maximum limitation of 1 week in high season (July and August)
Type of acquisition - Full Ownership.

The profitability distribution is calculated on a daily basis on the accommodation revenue of all units, after deducting operating expenses, and distributed according to the coefficient of each unit in the Rental Pool. The coefficient of each unit is determined by the permillage corresponding to the area of each fraction in the universe of units in tourist operation.
Operating expenses include the Reserve Fund, which will be used to cover any expenses that may arise during the course of the tourism operation contract and that are related to the wear and tear caused by use, its regular maintenance, replacement of necessary equipment, and ultimately the renovation of the unit itself following its natural end of cycle. Also the insurance necessary for the exercise of the tourist activity and the amounts related to the condominium are included in the item of expenses
as well as the management fees of the management company, with the calculated return to be distributed to the owners, net before taxes (On property - IMI and on the income generated, which has to be taxed in Portugal - IRS/IRC)
The management company prepares and provides monthly reports with information on revenues, expenses and distribution of net profitability per unit, as well as annual statements audited by independent entities for distribution to their owners.

OWNER BENEFITS
All property owners in the UIP universe (Pine Cliffs Resort, Sheraton Cascais Resort, Quinta Marques Gomes and Hyatt Regency Lisboa) benefit from a package of privileges such as;
UIP Owner’s Preferential Rates at hotels and resorts owned and managed by UIP (Pine Cliffs Resort; Sheraton Cascais Resort; Yotel Porto; Hyatt Regency Lisbon)
UIP owner discount of 25% on F&B valid at all UIP operated restaurants at its properties.
UIP owner discount for use of the Serenity Spa at all our hotels and resorts.
Dedicated Concierge Service
Energy Rating: A
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