LEASEHOLD

INTRODUCTION

“Ocean Star Service Apartment” is a managed service apartment that offers individuals an opportunity to own a lifestyle investment property that benefits from professional management and marketing.

The “Ocean 1” consist of a reception / administration office, 7 guest rooms, public swimming pool with outdoor daybed, outdoor shower & toilet set within a tropical garden.

And the “Ocean 2” consist of 4 guest rooms and back yard.

LOCATION

Ocean Star Service Apartment is situated on a prime block of land approximately 550 sq meters in the Sanur area, one of Bali’s sought after district.
The location provides easy access to the beach and the diverse shopping, restaurants and nightlife. The journey from Ocean Star Service Apartment to the airport is approximately 40 minutes.

LAND LEASE STRUCTURE

The property of “Ocean 1” has been secured with twenty years leases starting from June 2021 until June 2044 with an optional 2nd term extension of a further twenty years until June 2064.

And the property of “Ocean 2” has been secured with twenty years leases until October 2043 with an optional 2nd term extension of a further twenty years until June 2063.

The 1st 20yrs lease has been paid in full. The 2nd 20yrs term payment is one year before from expired. Lease rate will be determined by independent market evaluation at that time.

OWNERSHIP STRUCTURE

The Original Lease of the entire property was signed under PT STAR MANAGEMENT, as PMA (Foreign Direct Investment) Indonesian registered company. The property is to be subdivided into 6 catogories 11 separate rooms and subsequently sublease to individual apartment owners under the “Right to Use” title, with the common area held by the Management Company.

The Managing Company will maintain the common area, provide road access and all necessary licenses to operate the apartment as a service apartment.

DEVELOPER

PT STAR MANAGEMENT Ltd: A Japanese owned and operated, Indonesian PMA (Direct Foreign investment) registered company, specializing in vacation property development & management.

APARTMENT SELLING PRICE

Current as of September 2023.

Ocean 1 STUDIO SUPERIOR ( Room: #1, #2, #3, #6, #7 )

: IDR 1.470.000.000

Ocean 1 STUDIO SUPERIOR CORNER ( Room: #5 )

: IDR 1.442.000.000

Ocean 2 DELUXE ROOM 1F ( Room: #9 )

: IDR 1.750.000.000

Ocean 2 DELUXE ROOM 2F ( Room: #11 )

: IDR 1.680.000.000

Ocean 2 STUDIO STANDARD 2F ( Room: #12 )

: IDR 826.000.000

TERMS OF PAYMENT

1. Deposit of $10,000 upon agreement of purchase.
2. Balance payment with-in 30 days.
* Subject to 5% buyer tax (BPHTB)

INSURANCE PROTECTION

Building insurance protection by MSIG (Mitsui Sumitomo Insurance Company, Limited). Insurance covering collapse or damage to buildings due to natural disasters such as fires, earthquakes, and tsunamis.

RENTAL OPTION

Apartment owners retains 60% of net rental revenue.
Management charges 40% of rental revenue as management fee.
Revenue payable to owners quarter annually.
Profit sharing is based on the net rental income generated by the number of nights purchased in leasehold rooms.
The unit owner has the right to use the unit for himself and his family without any time limit during the rental contract period.
Family members are relatives up to the first degree, and basic accommodation expenses are free during the rental contract period. In addition to accommodation costs, personal laundry, food and beverages, transportation costs, etc. will be charged. If other relatives, friends, or acquaintances are staying, 50% of the accommodation fee will be paid to the management company.
Estimated 5 years full recovery of total investment base on – conservative revenue forecast.
Subject to Maintenance, Utilities & Service Fee.

MONTHLY COST

1 bedroom A (details)
Monthly Maintenance Fee*
Monthly Utility Fee
Monthly Service Fee**

*Maintenance Fee covers the shared cost of servicing, maintenance and the usage of the access road & common area, including rubbish disposal.

**Guest Service Fee covers the cost of operating the apartment as a daily rental operation which includes apartment maintenance, pool & garden maintenance, housekeeping, bath & linen laundry service, guest amenities, etc.

For more details please contact to us: