Centara Avenue Residence and Suites is an ultra-luxurious mixed purpose condominium and hotel development that’s being built by Tulip Group in the heart of central Pattaya just off Soi 15, Pattaya 2nd Road and is due to be completed in July 2016. The development consists of 3 low-rise 8 storey buildings of 380 condo apartments and 1 low-rise 8 storey, 3 -Star Centara branded hotel with 100 rooms. Of special note in this development is the luxurious high quality modern fixtures and fittings which include hard granite work-tops and counters in the kitchen and bathroom areas which provide for a comfortable and stylish living environment.
The project is over 87% sold out to date and foreign ownership is no longer available through the developer, however should you opt to buy a unit under Thai/Company name, we at My Pattaya Condo can offer you a complimentary furniture package and a 7% rental guarantee for 3 years through the developer, Tulip Group.
Tulip Group is an established developer, whose already completed the ultra-luxurious 5-Star Centara Grand Pratumnak Hotel, and has several other projects such as Golden Tulip Residence & Suites, Waterfront and Centara Grand Residence in Na-Jomtien presently under-construction.
Centara Hotel Group is owned and operated by Bangkok’s well known billionaire CPN Group, Thailand’s largest locally based serviced hotel and retail chain who co-incidentally also own all of the Central Festival Shopping Centres throughout Thailand. The developer of Centara Avenue Residence & Suites, Tulip Group has entered into a joint licensing agreement, whereby Centara Hotel Group will manage both the on-site 3-Star Centara branded hotel and the on-site juristic management team for the condo apartments for a duration of 10 years, which is subject to renewal for a further 10 years pending the approval of a majority of the condominium owners.
Meaning that the common communal areas of the project will be shared between both the condominiums and the hotel, which is a win win scenario for prospective condo apartment investors seeing as the hotel management team now has a considerable financial vested interest in keeping the communal areas and the overall appearance of the project in top notch condition. The project will feature a stunning 70 meter long pool with water-slides and waterfalls, that must be seen to truly be fully appreciated. In addition to saunas, steam rooms and a 60 square meter fitness centre together with his and hers change rooms, world class dining and a full time 24-hour concierge service on call. Additional hotel services such as a maid service, laundry service and room service will also be made available to condo apartment residents for an optional added fee.
This project has huge rental and investment potential, perhaps its worthwhile noting that most long stay tenants would prefer to stay in a fully serviced condo apartment as opposed to a small cramped hotel room, thus the conversion rate of hotel clients to long term condo renters should be greater than that of conventional condominiums without an on-site hotel, which when you think about it makes perfect sense. Furthermore when investors decide to sell, they will have the added benefit of buyers (previous hotel guests and condo renters) that are already know, and trust & love the project before even setting foot into the actual unit itself.
