Developer: Nova Group Thailand
Location: Central Pattaya
Total Buildings: 6
Construction Starts: 1Q 2014
Total Floors: 8
Expected Completion: 2Q 2019
Total Units: 780 units in 6 buildings
Prime building land is so scarce in the very heart of Central Pattaya these days that very few new projects are released each year here. And those that are released tend to be small developments which are severely limited in terms of the facilities on offer compared to projects in other areas, such as Jomtien, where there is more building land available. Nonetheless, Grand Avenue Residence will include a 200 room 4 star Hotel and 6 Condominium buildings on a total land area of just under 16,500 SQM.
This makes Grand Avenue Residence a very unique project. Not only does it offer an excellent location, but it is also a fully-fledged resort, which offers a wide array of amenities to owners, including vast water park style swimming pools that fill the centre of the resort.
Grand Avenue Residence is situated in a quiet street just behind the Avenue Shopping Mall and the Mercure Hotel. This ideal location means that Pattaya’s two main shopping malls – Central Festival and Royal Garden Plaza – are both within an easy 15 minutes’ walking distance, while Walking Street is also a similar distance away. Pattaya Beach is less than five minutes’ from here. For anyone who wants all of Pattaya’s amenities right on their doorstep, Grand Avenue Residence is the best option in the city right now. Despite its highly central location, the street that Grand Avenue Residence is located on is a quiet one which sees little through traffic, meaning that there will be little noise here.
The project is entirely composed of one and two-bedroom apartments. The one-bedroom apartments range is size from 36.1 to 69.7m2, while the two-bedroom/two-bathroom options range from 56.9 to 78.1m2. The larger-sized apartments in particular are likely to prove very popular with long-term rental tenants as there are few apartments of these sizes being released onto the market these days.
However, it is the range and quality of the of facilities that are available at Grand Avenue Residence which really puts this project into a league of its own, which are only possible due to the fact that the project occupies a large site covering a little under 11-rai. In addition to the huge swimming pools throughout the resort, owners and residents here will get to enjoy the fully-equipped fitness centre, spa centre, bars and restaurants, children’s pool and kid’s club, games room and library, four jacuzzis and saunas, a running track and even a mini-golf course. The project is also surrounded by beautifully landscaped gardens which include ornamental ponds and waterfalls and the terraces on the roofs of each building are also landscaped.
Existing developments close to Grand Avenue Residence, such as The Urban and City Garden, are so popular with rental tenants that there are usually waiting lists for accommodation at these projects. With Grand Avenue Residence having the added benefit of a much wide variety of facilities at residents’ disposal and the hotel management company looking after the maintenance, Grand Avenue Residence is sure to always be in very high demand with rental tenants. As a result, rental yields on this project are sure to be excellent.
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