URBAN SALT - Salt River Development - Cape Town by Sorted Design + Advertising

UR BAN

D E V E L OPM E N T

BUYE Râ&#x20AC;&#x2122;S

MA G A Z I N E

V OLUME

The Beat Of Cape Town

BE A PART OF TOMORROWâ&#x20AC;&#x2122;S CAPE TOWN

T O D AY.

CONTENTS

L IVE

G R O W

T R ANS F O R M

C O NNE C T

E X PL O R E

Live Designed for low maintenance and easy living, ideal for young professionals. With secure off-street parking and unobstructed 360 degree mountain, city and harbour views - SALT lies within the City of Cape Town Urban Development Zone (UDZ) and is conveniently close to the creative hubs of Old Biscuit Mill, Woodstock Exchange and the Foundry.

John & David Higginson Out of the Box Developments spawned from a collective view and belief of its three directors that a niche market exists for a genuinely well thought out and coherent inner city mixed use, entry level property development. A development that is conscious of its carbon footprint, ecological impact and overall sustainability while still remaining attractive to a broad and conventional market audience.

Out of the Box Developments

John & David Higginson have over 25 years experience in the property development and investment markets in both the residential and commercial sectors here in South Africa and in the U.K. They pride themselves in staying ahead of the curve in regard to predicting market changes and trends â&#x20AC;&#x201C; being one of the first development companies in the East Midlands, U.K to sympathetically convert redundant inner city listed buildings into vibrant and successful residential and mixed-use developments in the 1990â&#x20AC;&#x2122;s. These once run down and derelict buildings now form a valuable socioeconomic part of the inner city that represent a space where new communities have successfully evolved. The positive effects to percolate through from such a regeneration of an area are an increase in local employment and subsequent taxes paid, the preservation of old building stock that would probably have been demolished and most importantly the growth of a harmonious working neighborhood - to name but a few.

Selvan Naidu Selvan has over 37 years experience in consulting civil engineering and project management on private and public infrastructure projects. His expertise lies in areas ranging from large greenfields and brownfields projects from inception to completion and close-out stage, preferential procurement and corporate governance. He prides himself on the successful project management of multidisciplinary teams in major infrastructure projects across national, provincial and municipal entities.

Selvan is recognised by clients and colleagues as a consummate professional with a high degree of personal integrity and he is known for a contagious passion for excellence.

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ARCHITECT’S NOTE

CLIENT :

TWOPOINTFIVE (PTY) LTD

DRAWIN:

NORTH ELEVATION

NOTE: This drawing is the copyright of the architect. Do not scale refer only to figured dimensions. All dimensions and levels must be checked on site prior to setting out. Any discrepancies must be reported to the Architects immediately.

DRAWING NO.-

VH 15425 VH 107

REVISION NO.-

PROJECT :

PROPOSED DEVELOPMENT ON ERF 15425, FOUNDARY ROAD, SALT RIVER

PROJECT NO.-

DRAWN BY-

NOTE - All dimensions to be checked on site. - This design and drawing remains the property of the architect, copyright reserved.

Architect’s representations

SEM & SBM

DATE-

21-09-2016 SCALE-

1:100 ERF-

15425

VERNON HEAD

Vernon Head Architects

It is time for an authentic voice that sings like Cape Town

colours of nature; balconies pop like sparkling ericas,

sings on happy days. It is the moment for a building to

proteas and disas from a white façade that is subtly

find the vibrant soul of our beloved City: the sounds of

textured, proudly offering a design that talks to the

community, sophisticated and inspired by the unique

street, becoming part of a discourse that might begin to

flavours and colours that have informed all our good

lead the way forward, searching for ancient secrets.

memories, held patiently in the shadow of our ancient Mountain.

SALT is a ‘street building’ in every sense, the 184 brightly painted balconies suggesting a kaleidoscopic song of

SALT is more than just a residential structure. It is a home

musical notes, of fun and sophistication, offering views

that we hope will become iconic, honest and sensitive.

in every direction. Everywhere indigenous planting hangs

SALT offers a chance to truly see the essence of a

down, each plant carefully chosen to offer an aroma to

future architecture that is modest and yet innovative;

the air of Salt River. Take it all in and don’t forget to feed

appropriate and yet everlasting. Inspired by the bright

the pigeons and the wandering gulls.

• Multi-use development • Proposed coffee shop, cross fit gym and laundry • Nine floors of residential apartments • CCTV coverage • Biometric fingerprint scanner access control system • Cellphone enabled intercom system for visitors • Mountain and harbour facing • Central to Cape Town CBD • Central to Southern Suburbs • Right next to MyCiti Bus Stop • Next to Cycle track and Salt River station

Artist’s representation

184 MODERN INDUSTRIAL APARTMENTS

PREMIUM AMENITIES

A STONEâ&#x20AC;&#x2122;S THROW FROM CAPE TOWN CBD

One bedroom and two bedroom units Each apartment with its own balcony Modern design Sliding doors and window systems Vinyl wood flooring throughout apartment Italian designed kitchen Electric hob and oven Built-in bedroom cupboards

Artistâ&#x20AC;&#x2122;s representation

KEY UNIT FEATURES When you walk through these doors you know that youâ&#x20AC;&#x2122;ve arrived exactly where youâ&#x20AC;&#x2122;ve always wanted to be. This is home. All bedrooms and living rooms have a view (non internal). All apartments have balconies that offers mountain or harbour view; a haven where you can take time out in the privacy of your own space. These are perfect spaces taking time out at the end of the day or on weekends.

Artist’s representation

ROOMS Each apartment – we prefer to call it a home – is designed

sliding doors. Inside-outside is how we live in the Cape,

so that when you open the front door your eye leads straight

even on the twelfth floor! The floor-to-ceiling heights reach

out to the view. Looking towards natural light is fundamental

up to exposed slabs that are carefully finished in clean

to our design. The flow in every room therefore always

concrete, sprinkled with innovative lighting that sparkles,

moves towards natural light; the open-plan kitchen-dining-

giving maximum height and space.

living area opens out to a balcony with maximum width

1 BEDROOM FLOORS 3-7

EN SUITE

KITCHEN

DINING

UNIT X21

UNIT X19

LIVING

BALCONY

BEDROOM

UNIT X23

BEDROOM

EN SUITE

KITCHEN Louvered Screen to Engineers Detail

KITCHEN s

Steel Staircase to Engineers Detail

DINING

LIVING

UNIT X18

UNIT X16

DINING

KITCHEN

EN SUITE

LIVING

UNIT X20

DINING

LIVING

BEDROOM

UNIT X14 DINING

EN SUITE

KITCHEN

LIVING

UNIT X22

BALCONY

FOYER KITCHEN

DINING

UNIT X17

UNIT X15

LIVING

BALCONY

BEDROOM

Concrete Eng

KITCHEN

BEDROOM

DINING

BALCONY

LIVING

UNIT X24

BALCONY

MOUNTA

BEDROOM

UNIT X13

HARBOU

2 BEDROOM FLOORS 8-11

MOUNTA BALCONY

BALCONY

LIVING

UNIT X16

BEDROOM

DINING

KITCHEN

EN SUITE

UNIT X15

KITCHEN

DINING BEDROOM

BEDROOM

UNIT X13

EN SUITE

KITCHEN

EN SUITE

KITCHEN

DINING BEDROOM

BEDROOM

UNIT X10

DINING

DINING BEDROOM

LIVING BEDROOM

Refuse Chute

Con Engi

EN SUITE

FOYE

Louvered Screen to Engineers Detail

UNIT X12

KITCHEN s

EN SUITE

BEDROOM

Steel Staircase to Engineers Detail

LIVING BEDROOM

UNIT X14

EN SUITE

LIVING BEDROOM

BALCONY

BEDROOM

BALCONY

UNIT X11

KITCHEN

EN SUITE

DINING BEDROOM

BEDROOM

UNIT X09

LIVING

BALCONY

BEDROOM

HARBOU

AIN VIEWS BALCONY

LIVING

UNIT X10

UNIT X08

DINING

KITCHEN

DINING

UNIT X12

BEDROOM

DINING

Cantilever to gineers Detail

BALCONY

KITCHEN EN SUITE

EN SUITE

BALCONY

BEDROOM

EN SUITE

BALCONY

LIVING

UNIT X06

UNIT X04

DINING

KITCHEN

DINING

BALCONY

LIVING BEDROOM

BEDROOM

UNIT X02 DINING KITCHEN

EN SUITE

LIFT

BEDROOM

DINING

BEDROOM

Louvered Screen to Engineers Detail

UNIT X01

UNIT X09

UNIT X07

UNIT X05

UNIT X03

LIVING

BALCONY

UNIT X11 LIFT

Steel Staircase to Engineers Detail

KITCHEN

BALCONY

UR VIEWS

AIN VIEWS BALCONY

BALCONY

LIVING BEDROOM

UNIT X08

LIVING BEDROOM

BEDROOM

DINING

ncrete Cantilever to ineers Detail

EN SUITE

KITCHEN

BALCONY

UNIT X06

LIVING BEDROOM

BEDROOM

DINING

EN SUITE

KITCHEN

BALCONY

UNIT X04

LIVING BEDROOM

BEDROOM

DINING

EN SUITE

KITCHEN

UNIT X02

BEDROOM

DINING

EN SUITE

KITCHEN

EN SUITE

ER EN SUITE

KITCHEN

EN SUITE

Louvered Screen to Engineers Detail

LIFT DINING BEDROOM LIFT

UR VIEWS

UNIT X07 LIVING

DINING BEDROOM

BEDROOM

UNIT X05 LIVING

DINING BEDROOM

BEDROOM

UNIT X03 LIVING

DINING BEDROOM

BEDROOM

UNIT X01

Steel Staircase to Engineers Detail B

BEDROOM

LIVING A

BALCONY

OVERVIEW

Floor

Apartments

Apartment Size

Semi Basement / Ground Floor First Storey Parking Second Storey Parking Storey 3

24 units (1 Bedroom)

55.4m2

Storey 4

24 units (1 Bedroom)

55.4m2

Storey 5

24 units (1 Bedroom)

55.4m2

Storey 6

24 units (1 Bedroom)

55.4m2

Storey 7

24 units (1 Bedroom)

55.4m2

Storey 8

16 units (2 Bedroom)

78.4m2

Storey 9

16 units (2 Bedroom)

78.4m2

Storey 10

16 units (2 Bedroom)

78.4m2

Storey 11

16 units (2Bedroom - Penthouse Units)

78.4m2

2 BEDROOM UNITS

1 BEDROOM UNITS

2 ND STOREY PARKING 1 ST STOREY PARKING

RETAIL UNITS & GROUND FLOOR / SEMIBASEMENT PARKING

24 units 1 1 en suite 46.9 m2 8.5 m2 55.4 m2 1 included Hob and oven Space for washer and fridge Exposed brick and industrial conduit Timber Vinyl flooring

TOTAL PER FLOOR BEDROOMS BATHROOMS INTERNAL AREA BALCONY AREA TOTAL AREA PARKING KITCHEN FINISHES

1 BEDROOM

FLOORS 3-7

These stunning units come with two spacious bedrooms, each with their own en suite bathrooms. The balcony provides the perfect space to relax after a long day.

duct

EN SUITE

shower

wm fridge

KITCHEN

b.i.c

DINING/LIVING

sliding door

BALCONY

BEDROOM

TOTAL PER FLOOR BEDROOMS BATHROOMS INTERNAL AREA BALCONY AREA TOTAL AREA PARKING KITCHEN FINISHES

16 units 2 2 en suite 69.9 m2 8.5 m2 78.4 m2 1 included Hob and oven Space for washer and fridge Exposed brick and industrial conduit Timber vinyl flooring

2 BEDROOM

FLOORS 8-11

Open-plan living and kitchen space, with a bedroom that comes with its own en suite and built-in cupboards. Whip up some culinary delights on the built-in Smeg stove.

duct

WC fridge

EN SUITE

shower

duct

WC wm

EN SUITE

shower

KITCHEN

b.i.c

BEDROOM

b.i.c

DINING/LIVING

sliding door

BALCONY

BEDROOM

Artistâ&#x20AC;&#x2122;s representation

BALCONIES All apartments have balconies that offer mountain or harbour views. These are important spaces connecting each entertainment area with the sky. The balconies create havens where residents can take time out in private.

BRAAI FACILITIES The balconies will allow space for a kettle-braai, a cocktail and a quiet seat out over the view.

Artistâ&#x20AC;&#x2122;s representation

SPECS & FINISHES Attention will be paid to the small things: innovative and yet simple door handles, doors that reach up as high as possible, a floor finish that is both warm and homely, yet clean-edged and modern in every way. Colour has been chosen to be bright, popping out from white walls, contrasting with the soft textured tones of bespoke joinery pieces. The kitchen detailing will be fresh and appropriately stylish, with careful attention to maximisation of worktop flow-space, appliance placement and ergonomic elegance. Working with brands like Smeg and Hansgrohe, there is no doubt that the finishes will be of the highest quality,

STORAGE SPACE There can never be enough storage space and all rooms will offer design solutions that are both practical and elegantly unobtrusive.

STAY CONNECTED All apartments and communal spaces will be equipped with high speed fibre internet.

BUILDING

PARKING

The building will be about textures and colours: sophisticated bagged

The parking bays will be wide and easy

brickwork, contrasting a landscape of brightly coloured balconies and

to negotiate and all parking zones will

doors. Against this will glitter green leaves of formally planted vertical

be naturally ventilated and very well

elements that will both hang and climb architecturally. The public

illuminated with an emphasis on 24

spaces â&#x20AC;&#x201C; corridors, lobbies and entrance volumes â&#x20AC;&#x201C; will shine with

hour, high security, accompanied by

finishes inspired by nature; the white internal walls (some with murals)

clear, convenient and quick access to

emphasising crisp edges, and floating LED strip lights will stagger from

lifts and stairs.

above like swarms of strange and beautiful birds.

KEY PROPERTY FEATURES

Artistâ&#x20AC;&#x2122;s representation

SECURITY Biometrics - By integrating biometric technology we are

24hr Manned Security - The building will be guarded

able to ensure that only authorised residents are able to

by a professional service to ensure that the premises and

enter the building. Biometric access control (fingerprint

residents are protected against unauthorised access, theft

reading) into all parking and main access points into the

and malicious damage. Voice intercom access for visitors at

building.

main entrance door.

IP based CCT camera surveillance system that will monitor the perimeter of the building including all parking access points, lift foyers and main access points into the building.

Artistâ&#x20AC;&#x2122;s representation

The ten shop spaces that are designated can be allocated towards key tenants that offer valuable services that range from a coffee shop, print shop, Crossfit gym, laundry service, bicycle service shop, and a major convenience store brand - to name but a few. The responsibility of tending to everyday life has never been made easier.

COFFEE

Artistâ&#x20AC;&#x2122;s representation

CROSS

FIT

With Cape Town being such an active city, we take an active lifestyle very seriously. With the added benefit of a Crossfit gym right in the building, a quick session before or after work is just a few floors away.

Artistâ&#x20AC;&#x2122;s representation

BICYCLE Cape Townâ&#x20AC;&#x2122;s transport authority Transport for Cape Town (TCT) has spent approximately R300 million on non-motorised transport project over the last five years. These endeavours include installing bicycle lanes and walking paths in order to facilitate a universally accessible, cycle-friendly city that actively promotes walking and cycling as a means of getting around. Apart from Vuka Bumps (road studs), TCT will also install bollards along the green colourised cycle lane along Albert Road in Salt River to indicate their exclusive use by cyclists and pedestrians and to prevent other road users from entering the lane.

FRIENDLY Councillor Brett Herron, City’s Mayoral Committee Member: Transport for Cape Town

“The more cyclists make use of the cycling lanes that are being provided by the City, the better the chances are that cycling will become an accepted norm – and not the exception – of transport in Cape Town for visitors and residents alike.”

By partnering up with a local outdoor sports retailer, SALT will be equipped with its own bespoke (pun intended) mountain bike repair shop. From full bike servicing to replacing a tube - our technicians will take care of you. Have your bike washed at our washing bay to keep it looking as good as new.

LAUNDRY

SERVICE

LOC tio

CAon

SALT RIVER

The local area of Salt River lies nestled between the Devil’s Peak mountains and the sea. The area was established more than 250 years ago and Salt River centre is located a stone’s throw away from the Cape Town Central Business District. It is connected to metropolitan Cape Town via the national and main transportation routes namely the N1, N2, and the southern and northern suburb corridors.

Unknown to some, Salt River is quickly becoming one of Cape Town’s more popular and active suburbs. From families looking to buy their first homes in Cape Town, to anyone looking to spend a day under the loving shadow of Mother Mountain where good food, good people and sunshine are in no short supply.

It is one of the few places that remain true to its roots, whilst transforming into one of the most colourful and influential neighbourhoods in Cape Town. Once you have been there, you will always long to return and relive the extraordinary experience.

HISTORY

This suburb with its incredible heritage started out as a little town consisting of an inn and several fishermen’s cottages overlooking the waterway from which the suburb draws its name.

It is Salt River that the Cape Malay people, who previously lived in District 6, would start calling home in the 1950’s. Today, Salt River is home to second and third generation Malays.

SALT RIVER IS ONE OF THE OLDEST, MOST CULTURALLY AND HISTORICALLY RICH AREAS OF CAPE TOWN.

This coastal suburb became the booming industrial heart of Cape Town and clothing and textile factories, such as the Lion Match factory and the Snowflake flour mill towers characterised the landscape. If you walked down Main Road any time between 1960 and 1990, you would hear the sound of sewing machines coming from many of the buildings you passed.

Thanks to the growing railway station network, Salt River developed quickly in the early 1990’s. The industrial companies recruited labour from Salt River which helped alleviate unemployment, and that, in turn developed low to middle income residential pockets. Soon, Salt River merged with its neighbour, Woodstock, which had been steadily growing during the past few years. Today Salt River gives off a rustic urban feel that offers the perfect combination of old meets new and every inch of pavement is sprawling with beautiful buildings that holds historic tales. Buildings such as the Junction Hotel, the Locomotive Hotel and the Bridge Mansions, all regarded as Salt River institutions, still exhibit the roots of the suburb, displaying colourful characteristics of the town.

People

Salt Riverâ&#x20AC;&#x2122;s interesting residential composition cuts across race, class and religion. From Monday to Friday the suburb has a substantial mobile transient population made up of business owners, commercial and industrial workers, school-attending children and night-life revellers.

The deep rooted Malay history can be felt particularly on

Previously a lower-middle class suburb occupied mainly by

Sundays, with residents dressed to the nines making their

working-class families, the area is now also settled by young

way to and from the suburbâ&#x20AC;&#x2122;s several churches while the

professionals, workers and students of all race groups.

call to prayer echoes from its two mosques and colourfully clad minstrels can be seen returning from rehearsals for the Kaapse Klopse.

VREDEHOEK

WOODSTOCK SALT RIVER

C A P E T OW N THE CITY OF OPPORTUNITY

The Mother City the uncontended green building capital of South Africa. At SALT, we believe in harnessing sustainable building / green measures where and when we can.

CAPE TOWN CBD

According to an FNB report from April 2016, Cape Town has experienced a yearon-year rise of 12% in the Western Cape Price Index for the 1st qarter of 2016. This is the highest recorded rise since 2006. The Cape Town City Bowl has also experienced a capital growth of between 20 - 30% over the past year.

Cavendish Shopping Centre 7.5 km Newlands 7 km

University of Cape Town

4.6 km

Groote Schuur Hospital 4.6 km

Devil’s Peak Taproom 1.4 km

3 4

Red and Yellow School 1.3 km

< To Cape Town International Airport 14.3 km < Black River Park

< To the River Club

1.7 km

1.6 km

University of Cape Town

Devil’s Peak Taproom

This prestigious tertiary institution plays host to an array of accredited courses and degrees, and is a mere 4.6 kilometers away from SALT.

Hop down to this airy pub with armchairs and mismatched furniture for craft beers from on-site brewery and nibbles from the bar menu.

Groote Schuur Hospital

Red and Yellow School

This hospital is a large, government-funded teaching hospital situated on the slopes of Devil’s Peak.

This is where it all happens. Step through the door and you’ll feel the buzz and energy of students training for a career in advertising and marketing. Your career starts here.

Newlands

Black River Park

Newlands is an upmarket suburb of Cape Town, South Africa and is home to the Newlands Rugby Stadium. It also has beautiful, natural surroundings to explore.

The precinct houses the River Club Conference Centre and a golf driving range. There are several other amenities on site including a car wash, an ATM and a hair salon.

Cavendish Shopping Centre

The River Club

Cavendish Square is an award-winning shopping destination in Cape Town, with more than 180 stores that offer exclusive fashion, cinemas & dining experiences.

Whether you want to play a round of golf, eat at the restaurant or become a member - the River Club has it all.

V&A Wate V&A Waterfront > 7.7 km

Clifton/Camps Bay Beaches Clifton/Camps Bay Beaches 14.6 km 14.6 km

The Palms The Lifestyle Palms Centre Lifestyle Centre 10 2.8 km

CPUT

CPUT 11

16.2 km

2.8 km

WoodstockWoodstock 1.3km School AFDA FilmAFDA SchoolFilm12 1.1 km 1.1 km

1.3km

12 The Old Biscuit The Old MillBiscuit9 Mill

Pick n Pay Pick n Pay 1.1 km

1.1 km

Observatory Observatory 1 km 1 km

My Citi BusMy stop Citi Bus stop 60m 60m

The Old Biscuit Mill The commercial influence of Salt River boasts the popular Biscuit Mill market which has become one of the places to spend Saturday mornings.

Other places on map: CBD Clifton/Camp Bay Groote Schuur SPAR My Citi Bus stop V&A Waterfront

The Palms Lifestyle Centre This architectural delight now also hosts a popular night market where creatives meet to drink craft beer and dance to live music.

Salt River Station Salt River Station

CPUT Cape Town Campus The main campus of this established intitution is only a short bus ride away.

AFDA AFDA is the School for the Creative Economy and offers courses in film, television, performance, business innovation, computer technology, radio and podcasting.

7.7 km

PARKS

Salt River offers a plenitude of well-maintained parks, although it seems that more fun can be had playing in the streets if a stroll around the suburb is anything to go by. Shelly Street Sports Field is where soccer memories are made and it also hosts the annual Salt River Food and Lifestyle Carnival.

COMMUNITY HOUSE Community House is a unique and historic site of living heritage. It has been known as a site of

COMMUNITY

activism from around the mid 1980s which has shaped and continues to shape the socio-political landscape of its extended communities. It is a multi-purpose labour and community heritage site and the Community House Labour Archive and Library is a specialised information resource centre dedicated to servicing trade unions and workers.

Wesley Met. Practising School 0.31km Cecil Road Primary 0.39km Salt River Secondary School 0.14km Rosmeade College 0.33km Dryden Street Primary 0.34km Observatory Junior 0.96km Queenâ&#x20AC;&#x2122;s Park High School 1.00km

HEALTHCARE

EDUCATION

STREET ART

Salt Riverâ&#x20AC;&#x2122;s graffiti tells the stories of the community and the evolution of the area and its people. This form of social commentary is celebrated as key part of its history and of day-to-day lives.

UCT Private Academic Hospital 2.60km Grootte Schuur Hospital 2.10km Woodstock Hospital 2.10km

GRO

JUST A STONEâ&#x20AC;&#x2122;S THROW AWAY FROM CAPE TOWN CBD, SALT RIVER BRINGS A MEDLEY OF NEW CULTURAL AND CREATIVE TRADE TO LOCALS AND TOURISTS ALIKE. SALT RIVER IS AN IDEAL LOCATION FOR A MORE MIXED AND INCLUSIVE DEVELOPMENT STRATEGY.

Where worlds meet

In November 2015 Future Cape Town released a case study featuring Salt River as the destination for better understanding potential for urban development within Cape Town.

Salt River has a rich industrial and residential history that is currently being rejuvenated with building redevelopments and safer common areas. Improvements to the area can already be seen with the upgrading of sidewalks and streetscapes as well as the renovation of industrial buildings. The transformation is most evident in Durham Avenue with the redevelopment of a former clothing factory that became an office block housing businesses like BrandsEye, Red&Yellow Advertising School, Zando and Quirk.

Currently there is a focus on how to reinforce the area as an efficient and qualitative living environment. The broad strategic vision for regeneration of Cape Town as a whole translates into sets of strategies and concrete proposals that include urban design interventions with opportunities for historic preservation, the restoring of key public spaces and the reinforcement of economic opportunities associated with main routes or corridors. Salt River is the junction where a few of these projects and initiatives come together. This makes Salt River an ideal location to invest in.

In 2008 Cape Town Partnership began collaborating with the City of Cape Town on a shared ten-year vision and workable plan for the turnaround of Cape Townâ&#x20AC;&#x2122;s central city. The initiative was so successful that the area was enlarged to include the Table Bay district, the stretch from Camps Bay to the Foreshore, from the east of the city to Observatory, and Salt River to Langa. The Urban Development Zone was set up as an income tax rebate used to

Urban Development Zone

UDZ

incentivise property development in areas where the market is

underperforming relative to the potential (a function of a number of factors, including existing infrastructure).

Bordering Woodstock, an area which has been enjoying urban

renewal since the late 1990â&#x20AC;&#x2122;s, Salt River is ripe for upliftment and

has been pegged for revival as part of a R20 billion urban renewal initiative across Cape Town.

SALT - SALT RIVER, CAPE TOWN

PAGE 2

UDZ THE BENEFIT OF THE UDZ TAX Let’s talk TaxINCENTIVE Saving...

URBAN DEVELOPMENT ZONE

INVESTOR TAX SAVING URBAN DEVELOPMENT ZONE (UDZ) - INVESTOR TAX SAVING

This allowance was introduced in 2003, and has been rolled and amended at various times since then. It is contained in Section 13 of the Income Tax Act, and was designed to encourage inner city renewal and revival. It is a depreciation type allowance, which allows qualifying investors to make significant deductions from their taxable income, which could have the result of either reducing their income tax liability, or creating a tax refund. By design, this is a brief introduction to the topic, to explain the benefits available. Where needed, more detailed advice should be sought. The key points of the UDZ allowance are as follows: • The allowance is available to either the developer, or the first owner who buys from the developer. • The allowance is a deduction from taxable income, calculated as below. • The allowance is fully recouped (reversed) on sale (i.e. the total allowances claimed in prior years are added back to taxable income in the year of sale). • In order to claim the allowance, the owner must be using the property in the course of trade (i.e. renting it out, or using it for business purposes). No allowance may be claimed if the owner is occupying the property as a residence. Further tax notes: The allowance is not automatically ring-fenced, and may create a tax loss situation for the investor / owner. This tax loss can be deducted from other types of taxable income. This loss may become ring-fenced in terms of the SARS rules on the subject (losses in 3 out of 5 years etc.).

FOR FURTHER UDZ TAX ADVICE PLEASE CALL OR EMAIL: Leia van der Horst | Tax manager - email: leia.vanderhorst@lph.co.za Nici Martin | Senior Tax Consultant - nici.martin@lph.co.za

LPH Chartered Accountants Inc.: Office Tel: 021 448 1360 Website: www.lph.co.za

LET’S TALK TAX SAVING... Let’s talk Return On Investments (ROI)...

Let’s talk UDZ Tax Allowance and Impact on Cash Flow... CASH FLOW PROJECTIONS

ROI*

Rental/ mth

Purchase price

Year

Monthly Rent received

Annual gross rental

Annual UDZ tax saving

Total cash flow for period

8,650

103,800

58,405

162,205

9,256

111,072

23,362

134,434

* The ROI is based on the projected rental achieved amounts of R8 650 per month for a 1 bedroom and R13 500 per month for a 2 bedroom.

9,904

118,848

23,362

142,210

10,597

127,164

23,362

150,526

The projected period is final quarter of 2019 with a current annual rental escalation of 7%. For in-depth analysis of the current rental market please contact the Seeff selling agents whose names are on the brochure, namely Sean Guy, Craig Algie and George Clelland.

11,339

136,068

23,362

159,430

12,133

145,596

23,362

168,958

12,982

155,784

23,362

179,146

13,891

166,692

23,362

190,054

14,863

178,356

23,362

201,718

15,903

190,836

23,362

214,198

17,016

204,192

23,362

227,554

1,638,408

292,025

1,930,433

1 bed

R8 650

R1 295 000

GROSS YIELD

2 bed

R13 500

R2 015 500

PAGE 3

SALT - SALT RIVER, CAPE TOWN

GROSS YIELD

Totals

Please note that the information contained above is merely a guideline. For information pertaining to your potential UDZ tax saving please contact LPH Accountants on Office: 021 448 1360 or website www.lph.co.za and for rental projections contact Sean Guy at Seeff Constantia on 021 794 5252.

• R1 638 408 Gross rental income for 11 years • R292 025 Amount of tax saved, assuming the taxpayer is on the 41% marginal rate, and the unit is NOT sold • R1 930 433 Combined cash flow position after including the UDZ tax benefit ASSUMPTIONS Cost of the unit Rental (per month) in Year 1 Annual increases Investor’s marginal tax rate

1,295,000 8,650 7.00% 41.00%

Let’s talk Area Property Price Growth It is clearly evident from the 2 graphs that

Median Residential Growth

the Woodstock, Salt River and Observatory

Average Selling Price Median Selling Price

R3 500 000

property belt has seen significant growth

R3 000 000

since 2014. Salt River (marked in red) in

R2 500 000

particular has seen over 130% growth OBSERVATORY

R2 000 000

since 2014.

WOODSTOCK

R1 500 000

SALT RIVER R1 000 000 R500 000 R0

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

R2 000 000

OBSERVATORY WOODSTOCK

R1 000 000

SALT RIVER

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Let’s talk Potential...

Lets talk potential

* Source: Lightstone Please note that Lightstone obtains data from a broad range of 3rd party sources and – despite the application of proprietary data cleaning processes – cannot guarantee the accuracy of the information provided in this report. It is expressly recorded that information provided in this report is not intended to constitute legal, financial, accounting, tax, investment, consulting or other professional advice. This report does not contain any confidential information relating to the property owner or any owners residing in the suburb. All bond, home, loan and property registration information in the reports is from the Deeds Office where information on all property registrations, property transfers as well as all registered bonds / home loans are kept.

Median Sectional Title Growth

This is public domain information and accessible by any person.

Average Selling Price Median Selling Price

PAGE 4

SALT - SALT RIVER, CAPE TOWN

Median Selling Price Median Selling Price

Median Sectional Title Growth

R2 000 000

CITY CENTRE OBSERVATORY WOODSTOCK

R1 000 000

SALT RIVER

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

The above graph represents a comparative selling price differential in sectional title apartments between Cape Town City Centre and the Woodstock, Salt River and Observatory belt. The proximity of this belt to the City Area property growth. Centre is approximately 2km and the recent urban expansion has seen extensive growth in this belt. It is clearly evident that there is potential for further growth in selling price in the Woodstock, Salt River and Observatory belt. g Price

OWN

R2 000 000

OBSERVATORY

Let’s talk Comparatives...

Let’s Talk Capital Appreciation Opportunities

Development Compe::ve Analysis Development Competitive Analysis Average price per/sqm Average price per/sqm

R50 000,00 R45 000,00 R40 000,00 R35 000,00 R30 000,00 R25 000,00 R20 000,00 R15 000,00

R10 000,00 Let’s talk Area Property Price Growth R5 000,00 R0,00

SALT

Sectional Title Developments in Woodstock / Salt River / Observatory Sec:onal Title Developments in Woodstock / Salt River / Observatory It is clearly evident from the 2 graphs that

Median Residential Growth

the Woodstock, Salt River and Observatory

R3 500 000

Average Selling Price Median Selling Price

SALT’s average price per/m ² outperform s com peting developmproperty ents. belt has seen significant growth SALT’s average price per/m² outperforms competing developments. R3 000 000

since 2014. Salt River (marked in red) in There are that have havecome cometotomarket marketininWoodstock, Woodstock, Salt There areaanumber number of of developments developments that Salt River and Observatory belt R2 500 000 particular has seen over 130% growth River and Observatory in the past 2 years. 7 The above graph 7 G) in the area, including SALT in R2 000 000 the past 2 years. Thebelt above graph represents developments (B,represents C, D, E,since F and OBSERVATORY 2014. developments marked in red. WOODSTOCK marked in red.(B, C, D, E, F and G) in the area, including SALT R1 500 000

SALT RIVER

PAGE 4

SALT - SALT RIVER, CAPE TOWN

competing developments B to G start from an average of R34 000/m² up to R46

TheR500 000 average price per/m² for SALT stands at just over R30 000/m² whereas the competing developments B to G start from an average of R34 000/m² up to R46 000/m². R0

000/m².

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Median Sectional Title Growth Median Selling Price Median Selling Price

PAGE 6

SALT - SALT RIVER, CAPE TOWN

ForR1 000 000 further information onfor developments B at through to GR30 kindly contactwhereas our Seeff Salt team. The average price per/m² SALT stands just over 000/m² the

R2 000 000

OBSERVATORY WOODSTOCK

R1 000 000

SALT RIVER

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Median: denoting or relating to a value or quantity lying at the midpoint of a frequency distribution of observed values or quantities, such that there is an equal probability of falling above or below it. * Source: Lightstone Please note that Lightstone obtains data from a broad range of 3rd party sources and – despite the application of proprietary data cleaning processes – cannot guarantee the accuracy of the information provided in this report. It is expressly recorded that information provided in this report is not intended to constitute legal, financial, accounting, tax, investment, consulting or other professional advice. This report does not contain any confidential information relating to the property owner or any owners residing in the suburb. All bond, home, loan and property registration information in the reports is from the Deeds Office where information on all property registrations, property transfers as well as all registered bonds / home loans are kept. This is public domain information and accessible by any person.

WID

WOODSTOCK IMPROVEMENT DISTRICT

Woodstock Improvement District (WID) was created in 2002 when several business leaders were concerned primarily with establishing safe routes for commuters between the rail station and their places of employment. But with growing support and input from City Council a fully-fledged city improvement district began. Today the positive results of this forum are there for all to see. Woodstock is now one of the most desirable places to live, work and play in Cape Town.

SRBID

SALT RIVER IMPROVEMENT DISTRICT

Property owners in Salt River are invested in the future of the area and have established their own Special Rating Area now known as Salt River Business Improvement District. The SRBID supports the urban regeneration of the area and oldindustrial buildings are being converted into innovative and creative industry hubs. The SRBID has already beefed up its security presence in Salt River by utilising a budget of nearly R240 000 for one City law enforcement officer, known as a rent-a-cop, and a CCTV camera system that focusses on crime hotspots in the area.

P R O P E R T Y OW N E R S U P P O R T E D P R O J E C T S Property owners with the financial means to contribute

•

beyond their SRA levy for the SRBID are being encouraged to

Funding of voluntary additional services including landscaping of public spaces through an “adopt a spot”

support various additional initiatives such as:

initiative. •

•

Funding of additional security patrols in the public area.

•

Funding for the direct employment of additional City of

Donation of infrastructure for the deployment of CCTV cameras of properties in strategic locations.

Cape Town Law enforcement officers. •

Job creation and skills development opportunities. •

Donation of supplies and equipment for the operations of the SRBID such as uniforms, branding, signage, cleaning equipment

VO O R T R E K K E R R OA D C O R R I D O R I M P R OV E M E N T D I S T R I C T – V R C I D The Voortrekker Road Corridor Improvement District (VRCID) starts at Salt River Circle. Stretching 17km west to east from Salt River Circle to Stikland Bridge, this important road – centrally located in the city region – is now the subject of a number of strategic interventions by public and private interests. The VRCID could play a significant role in housing the growing population more centrally.

The Woodstock Exchange | Albert Road

TRANSFORM

Salt River is one of Cape Town’s first thriving industrial areas, that now attracts both business workers and pleasure seekers. Salt River is charged with electrifying energy which can be experienced constantly through its infrastructure, boutique stores, food and people.

While historically Salt River is known for its textile manufacturing, this unassuming little suburb is fast becoming home to growing industries, such as gin making, woodcraft and gastronomic flare.

The Salt River Village urban renewal project, spearheaded by landscape

THE S A LT R I V E R V I L L AG E

architecture consultancy Gibbs Saintpôl, is an example of a development that keys into this vision and integrates several related space-making projects – from the renovation of industrial buildings and the upgrading of sidewalks and streetscapes to the re-making of a community playpark and public art installations.

Rex Trueform, in its heyday, was the largest clothing manufacturer in Southern Africa.The Rex Trueform Office Park, an iconic building with a history that dates back 60 years, has also recently been reconditioned to its former glory.

SPENSER S Q UA R E

REX TRUEFORM O F F I C E PA R K

Spenser Square is an area offering primarily industrial accommodation where thriving businesses such as Willowlamp, Rootform, ArtThrob and Duchenne Cabinetry rent or own factories and offices.

THE

PA L M S Decor & Lifestyle Centre

The Palms was originally the site of one of Cape Townâ&#x20AC;&#x2122;s first bakeries, but today it offers a mix of lifestyle stores and office spaces rented by architects, designers, consultants and other professionals. This architectural delight now also host a popular night market where creatives meet to drink craft beer and dance to live music.

Offering “a cool urban stay”, Wish U Were Here has taken over the Bridge Mansions building and

WISH U WERE HERE

transformed it into a funky lodge featuring 16 chic, individually decorated rooms equipped with city views. There’s also the Communal Area where like minded travellers can meet, relax and enjoy a selection of food and drinks from the kitchen.

BA D P O E T S BAC K PAC K E R S

A stylish old Victorian home has been turned into a bright, colourful guesthouse offering four small dormitories, a large communal courtyard, bar area and outside deck with a view of the mountain. The host, Carl, lives onsite to ensure the smooth running of the establishment and to help guests to enjoy their stay.

This revamped Woodstock building houses a complex of design studios and shops. Tenants

WO O D S TO C K F O U N D RY

include a licensed restaurant, coffee roaster and café, a botanical florist, high-end designer furniture studios, arty décor shops, a cast metal foundry and more.

THE DECKLE EDGE

The Deckle Edge is a landmark retail store that provides for the creative community in Cape Town. This well-known art store recently decided to choose Salt River for their new premises and is now situated in Brickfield Road.

THE

WO O D S TO C K EXCHANGE

The Woodstock Exchange development transformed a historic building from an industrial space to a multi-faceted creative hub that contribute to the energies that Woodstock so generously boasts. It soon became an incubator for young fledgling businesses as well as a home to international market makers with creativity as the common thread.

Salt Rive Woo r dsto Circle i st ck, O bser he cog t vato h ry, M at conn ec owb ray a ts the c ity, nd M aitla nd.

CONNECT

Salt River is in close proximity to two major national roads - Voortrekker Road and the M4 freeway - and offers easy access to the commuter rail infrastructure as well as two large research institutions (University of Cape Town and the Cape Peninsula University of Technology). A short 16.8km drive on the R102 route will get you to Cape Town International Airport. There is also a harbour and rail networks which contribute to the unbound industrial wealth of Salt River.

The key enabler for Salt River was public transport which started to become vital to economic growth. Commuting is part of everyday life in an area where occupants rely on public transport and Salt River has continued to gain popularity with office users as its convenient location drives demand to and from the neighbourhood. With the city expanding into the Woodstock Salt River region ever more people will be passing through to get to work and public transport is developing day-by-day.

B U S S E RV I C E S City living encourages commuters to share resources such as public bus services. The MyCiti and Golden Arrow buses, which passes through the current residential and industrial areas, help commuters travel to work and back home. This helps residents earn a living and improve economic growth.

There are official MyCiti bus stops in Spencer Road as well as in Foundry Road. The main bus route extends from the Salt River railway station through District Six, past the Cape Peninsula University of Technology (CPUT), Woodstock, Walmer Estate and University Estate to the Cape Town CBD.

S A LT R I V E R S TAT I O N

One of South Africa’s first metro railway stations occupied Salt River. Because of this, companies started to spring up, servicing the growing need of employment for the local residents. It’s a well know fact that this station will be in need of a redesign soon. This upgrade could possibly also provide the catalyst required to accelerate the region’s development.

Salt River encompasses the real Capetonian lifestyle, with food and fashion flowing through the streets. The area holds so much that beckons to be explored, offering everything from footwear, wines and hand-woven furniture to dried fruits and home dĂŠcor.

Explore

The suburb is somewhat of a mecca for shoppers from all corners of Cape Town eager to get more bang for their bucks and, with its abundance of factory shops, it is a must-stop spot for bargain hunters. Walking the streets you encounter an urban environment defined by energy, creativity and community where you find familyrun shops next to newly opened eateries.

There is much more to Salt River than meets the eye. Recognise the sights and smells of the East by indulging in an authentic Cape Malay dish, its unique flavour defines the Cape Town culture. As its name implies, it is a fusion of traditional South African cuisine with Malaysian influences. Its flavours are well-known to locals, and remain a major part of the Capetonian culture. Salt River has to be the perfect place to relish in some of the tastiest Cape Malay meals.

Saturdays at the Neighbourgoods Market at the Old Biscuit Mill in Albert Road

The commercial influence of Salt River boasts the popular Biscuit Mill market which has become one of

NEIGHBOURGOODS MARKET AT THE OLD BISCUIT MILL

the places to spend Saturday mornings, sipping on an iced cold organic beer, shopping for unique garments or devouring a juicy char-grilled burger. There are many tastes, smells and experiences here that attract people from all walks of life. Salt River is becoming increasingly popular with those who want to eat, drink and dance their hearts out.

Blank Books second-hand book store - Salt Circle Arcade

Tastes

THE

TEST KITCHEN

Book a table a the inventive The Test Kitchen that frequently earns the title of South Africa’s best restaurant. Luke Dale Roberts uses art and science to serve up the most unusual and mind blowing dishes.

MARIAM’S KITCHEN An institution older than 20 years and serving up a variety of traditional fare from rotis to salomis, curries and samosas. A Japanese TV program recently dedicated an episode to Mariam’s version of the iconic Gatsby and many repeat visitors to Cape Town stop in at Mariam’s for a salomie before doing anything else.

THE

TAP ROOM

Showcasing the latest craft beer creations from the Devil’s Peak Brewing Company, The Taproom offers gourmet grub ranging from bar snacks to burgers with bowls of scrumptious salads in between. Try the Beer and Food Pairing Board whilst soaking up stunning mountain views.

COFFEE CULTURE

Step into Salt Riverâ&#x20AC;&#x2122;s favourite coffee shops as part of your morning routine. The neighbourhood is dotted with eclectic breakfast spots where baristas brew some of the best blends. Go past EL GREEYO - HOUSE OF CUBAN COFFEE in Brickfield Road for a kick-start to the day or stop at the colourful CAPTAIN KIRWINS COFFEE in Albert Road for and experience out of the ordinary.

Hustle

Bustle

HOPE ON HOPKINS DISTILLERY TOURS & TASTINGS

Salt River even has its own gin, made using the London Dry one shot method in a small artisanal distillery. Influenced by the area, the gin combines South African flavours of a range of botanicals including juniper, handpicked kapokbos (or wild rosemary) and buchu from a farm on the Winterhoek Mountains as well as organic citrus peel from the Cederberg. To see first-hand how it is made and to get a taste, Hope on Hopkins Distillery provides the Gin Experience.

WOODSTOCK BREWERY

The Woodstock brewery is as big as life and should not be ignored. Here you will find some of the best craft beers which is brewed by fresh ingredients and inspired by the light unfiltered taste.

BEERGUEVARA WORKSHOPS

Driven by the belief that everyone has the right to great beer, Beerguevara traffics the ingredients, gear and know-how to make a great brew. In addition to stocking beer kits, hops, malts, yeast and equipment, they also offer a range of workshops, taking small groups of novice brewers through the entire brewing process - from choosing and weighing the right malts and hops, through mash, lauter, boil and chill, to pouring their first beer into the fermentor.

Devilâ&#x20AC;&#x2122;s Peak Brewing Co. | 150 Cecil Road, Salt River

Revolution Records: Lower Main Road, Observatory

Saturday morning market at the Palms Lifestyle Centre

MARKETS

MEETING

PLACES THE SALT RIVER MARKET In the shadow of Devilâ&#x20AC;&#x2122;s Peak, nestled between its slightly more trendy siblings, Woodstock and Observatory, Salt River has a daily market that has been traded at by a dozen local grocers, fishmongers, paint purveyors and second-hand shops for 80 plus years. This traditional market in Voortrekker Road near Salt River circle is the oldest community market in the Woodstock area and it is open from Monday to Friday.

NEIGHBOURGOODS MARKET AT THE OLD BISCUIT MILL The Old Biscuit Mill on Albert Road cuts between Woodstock and Salt River, and is easily one of the trendiest spots in Cape Town. This old face brick factory building with its boutique shops has been turned into a space where you can find some of the best restaurants such as the Potluck Club and Burrata. More and more people are flocking to the hugely successful Neighbourgoods Market to start their Saturdays. Here they browse and buy designer items and organically grown and sourced produce.

For a more bespoke shopping experience, take a stroll to Lower Main Road’s Salt Circle Arcade where designer clothing, jewellery, handbags and décor along with second hand books are all on offer.

SALT CIRCLE ARCADE

There’s even a tattoo parlour for the brave. Food trucks gather in the central courtyard which has become an entertainment space where visitors can spend time playing games on the variety of retro outdoor game tables. The rest of the building consists of five floors of bright, light, airy office spaces.

Frugal fashionistas can put their best foot forward in Main Road with

TOKYO+Co

shoe shops like TOKYO +Co. Label lovers are catered to with Zoom, Plum, Tommy, North Star, Pringle, Hush Puppies and more on sale at massively reduced prices. Plus, there is a selection of stylish clothing to complement the footwear.

WHATIFTHEWORLD GALLERY Situated in a decommissioned synagogue in Woodstock, the new gallery brings even more colour to the artistic and ever-changing Woodstock art hub. The old premises has been converted into a design studio and every piece that leaves the space is custom made from the workshop.

CAPE TOWN SOCIETY FOR THE BLIND CANE FURNITURE SHOP Baskets and baby cradles, laundry bins and lampshades, screen dividers and seating, the Cape Town Society for the Blind Cane Furniture Factory Shop has it all and more. The items are handmade by 40 visually impaired people who earn an income from the sale of their wares. Products can be custom-made to suit any specifications with materials that match a myriad of colour schemes.

GOING UNDER CLOTHING Going Under Clothing provides local and international branded clothing at seriously low prices. While some of the stock is comprised of rejects, the majority consists of overruns, returns and chain store cancellations. Thereâ&#x20AC;&#x2122;s something for every member of the family, even picky teens.

PLANS FOR

PHASE TWO

PHASE 2

COMING SOON

Disclaimer: While every effort will be made to ensure that the information contained for this document is accurate and up to date, Out Of The Box Developments makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers should make their own enquiries to verify the information contained herein.