New N$200 million serviced apartment set for Swakopmund
By: Eric Mhunduru
Local hospitality sector guru Wilcko Aschenborn says plans for the construction of a 13-storey apartment in Swakopmund are at an advanced stage.
The development valued at N$200 million will consist of sectional title serviced apartments, offer 24-hour reception and guest services, restaurant with rooftop dining, while enjoying the desert and sea views.
It will also feature a pool deck with a heated pool, loungers, shaded cabanas, a wellness gym, a sauna, and treatment rooms.
Aschenborn says the building, will house 90 apartments and offer three different types of units managed under The Central brand.
Situated in Swakopmund’s new development area and standing at the height of 40-metres, Aschenborn says buyers will be able to purchase apartments in the coastal landmark while retaining ownership of their property and ensuring return on investment.
He says the owners can use their property and make them available to families during coastal visits or simply generate income from them.
“The beauty of all the apartments is they start 50 meters up, so all of them have a tremendous dune, river, sea and old town view. We are just behind the historic line,” he said.
Aschenborn explains there are three different types of properties that include executive, standard, and family suites with a 10% projected return on investment at just 35% occupancy.
He adds that owners are looking at a 38% return on investment at 85% occupancy, which is the peak hospitality performance period.
Aschenborn further elaborates on the inspiration behind The Centrals development and their occupancies target market.
“We have got a standard apartment suite, which is 36 square meters with the balcony, which sleeps two packs, two people, with a kitchenette, bathroom and a toilet.The kitchenette is fully fitted, got all the cutlery, the crockery, the pots, the pans, the tumble dryer and the dishwasher, all included”.
According to Aschenborn, only 45 of the 90 suites remain available, with the rest already under contract.
Furthermore, Aschenborn said they manage the biggest serviced apartment, short stay business in Swakopmund, operating more than 160 apartments, and The Central is an addition to the business as well as a direct response to the growing demand for self-catering apartments.
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