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The Foreshore, Cape Town
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Special Promotion - 15 Year Guaranteed Rental
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Development:
Location: Status: Number of Plots: Completion: Discount: Price Range: Exchange Deposit: Reservation Fee: The Foreshore
Cape Town Reserved Early 2007 - From £80,000 - £85,000 - £1,500 Features:
* 5 person apartments * £80,000 - £85,000 * Central Atrium * Ample Parking * Urban Regeneration * Minimal 20% deposit * Strong Materials * Quality finishings |
Development Summary
About The Development
• 15 Year Guaranteed Rental
• 30% Off Plan Discount
• Excellent Potential Capital Appreciation
• Minimal 20% Deposit
• Secure Deposits held in Attorneys Client Accounts
• Interest Bearing Deposits at circa 6.5% per annum
In the Central Business District of Cape Town there is a selection of new build projects selling for between 18,000 & 23,000 Rand per square metre. The apartments here at the Foreshore are heavily discounted to attract serious investors. They are being sold at an equivalent price of around 10,500 Rand per square metre. If you take a cautious view that the actual m arket price of new build in the Foreshore should be 15,000 Rand per square metre then the price is discounted to the tune of 30% from market price.
15 Year Guaranteed Rental
The apartments are sold with a 15-year lease in place. The lease is with a government institution that co-ordinates student accommodation in Cape Town . The government institution has an option at the end of the 15 years to extend the lease for a further 10 years. The yearly lease will be increased by an average of 7% per annum for each year of the full term of the 15 years. This means that the gross yearly return on your initial investment improves from 7.7% in year 1 to 20% in year 15. The lease is a repairing lease which means that the lessee must return the apartments in the state in which they took them on.
The Properties
The apartments are approximately 90sqm in size and are designed to accommodate 5 people. The quality of finish will be high, with an emphasis on hardwearing materials e.g. granite worktops in the kitchen. The building has a central atrium that provides light to all levels. There is ample parking that is in high demand in central Cape Town . The developer has already received interest from the business community for leasing of the parking spaces.
Plans For The Foreshore
The Foreshore is integral to the next phase of Cape Town "s urban regeneration. The plans for ‘Broadway Boulevard" (R300M investment to provide modern, new office accommodation of approx 40,000sqm and 8,000 sqm of retail) in the Foreshore show the development of a strong entertainment/retail/after-hours mix that will stretch the retail activity through the day and week –a 24/7 perspective. The Foreshore will help to ensure ongoing improvement to Cape Town "s city centre and will enhance values for residential and commercial property investors.
The Developer
Is structured to perform all of the aspects required in the residential component of this project development, including land procurement, design, marketing and provision of finance and supervision/monitoring of the processes. They are managed by a particularly stable and experienced staff. Established in 1966, it has grown considerably over the years and is now one of the largest, best-known and respected residential developers in the Cape .
Mortgages
50% mortgages are available with South African Banks for an international buyer. We hope to be able to source higher loan to value mortgages with more commercial lenders by construction end.
• 30% Off Plan Discount
• Excellent Potential Capital Appreciation
• Minimal 20% Deposit
• Secure Deposits held in Attorneys Client Accounts
• Interest Bearing Deposits at circa 6.5% per annum
In the Central Business District of Cape Town there is a selection of new build projects selling for between 18,000 & 23,000 Rand per square metre. The apartments here at the Foreshore are heavily discounted to attract serious investors. They are being sold at an equivalent price of around 10,500 Rand per square metre. If you take a cautious view that the actual m arket price of new build in the Foreshore should be 15,000 Rand per square metre then the price is discounted to the tune of 30% from market price.
15 Year Guaranteed Rental
The apartments are sold with a 15-year lease in place. The lease is with a government institution that co-ordinates student accommodation in Cape Town . The government institution has an option at the end of the 15 years to extend the lease for a further 10 years. The yearly lease will be increased by an average of 7% per annum for each year of the full term of the 15 years. This means that the gross yearly return on your initial investment improves from 7.7% in year 1 to 20% in year 15. The lease is a repairing lease which means that the lessee must return the apartments in the state in which they took them on.
The Properties
The apartments are approximately 90sqm in size and are designed to accommodate 5 people. The quality of finish will be high, with an emphasis on hardwearing materials e.g. granite worktops in the kitchen. The building has a central atrium that provides light to all levels. There is ample parking that is in high demand in central Cape Town . The developer has already received interest from the business community for leasing of the parking spaces.
Plans For The Foreshore
The Foreshore is integral to the next phase of Cape Town "s urban regeneration. The plans for ‘Broadway Boulevard" (R300M investment to provide modern, new office accommodation of approx 40,000sqm and 8,000 sqm of retail) in the Foreshore show the development of a strong entertainment/retail/after-hours mix that will stretch the retail activity through the day and week –a 24/7 perspective. The Foreshore will help to ensure ongoing improvement to Cape Town "s city centre and will enhance values for residential and commercial property investors.
The Developer
Is structured to perform all of the aspects required in the residential component of this project development, including land procurement, design, marketing and provision of finance and supervision/monitoring of the processes. They are managed by a particularly stable and experienced staff. Established in 1966, it has grown considerably over the years and is now one of the largest, best-known and respected residential developers in the Cape .
Mortgages
50% mortgages are available with South African Banks for an international buyer. We hope to be able to source higher loan to value mortgages with more commercial lenders by construction end.
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