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VREDEHOEK, CAPE TOWN
VREDEHOEK, CAPE TOWN
13 OCTOBER 2016 WWW.BDLIVE.CO.ZA WWW.BUSINESSLIVE.CO.ZA 14 MAY 2021
MUST-READ
YOUR PEACE IN THE CITY YOUR PEACE IN THE CITY
365 days of local design PAGE 2
From R2.495 million (incl. VAT) no transfer From R2.495 duty million (incl. VAT) no transfer duty • Back-up power supply
• Back-up power supply
• Inspiring contemporary design by award winning architects
• Inspiring contemporary design by award winning architects
• Sea, mountain and city views
• Secure parking and excellent security • 10 exclusive apartments
• 1 penthouse with private jacuzzi
Estate living: the next level
• 1 penthouse suite with private jacuzzi
PAGE 3
www.TheVera.CapeTown
• Sea, mountain and city views
• Secure parking and excellent security • 10 exclusive apartments
• 1 penthouse with private jacuzzi
• 1 penthouse suite with private jacuzzi
www.TheVera.CapeTown
Harbour Arch, an Amdec Property Developments project in Cape Town
Why buy off-plan? Limited offer with tax incentive PAGE 7
The benefits of buying a home off-plan often include tailor-making elements such as layout, fixtures and fittings. We look at some appealing development options
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Welcome to Vredehoek, Your Peace in the City ORANJEZICHT, CAPE TOWN
VREDEHOEK, CAPE TOWN
HELLO TABLE MOUNTAIN From R1.395 million (incl. VAT) no transfer duty
HELLO TABLE MOUN
From R2.495 million (incl. VAT) no transfer From R2.495 duty million ( • • • • • • •
• Full power back-up generator • Custom designed joinery workspace in each apartment • Free high-speed fibre for one year • Sea, mountain and city views • Secure parking and excellent security • Limited collection of 15 apartments
Back-up power supply • Back-up power supply Storage pod included with each apartment • Storage pod included w Panoramic Table Mountain views • Panoramic Table Mount 5 minutes drive to Camps Bay • 5 minutes drive to Camp Short-term letting and pet friendly • Short-term letting and p 15 apartments • 15 apartments 3 exclusive penthouse apartments • 3 exclusive penthouse a
www.TheCedar.CapeTown
www.TheCedar.CapeT
www.TheVera.CapeTown
RE SIDE NT IAL
David - 072 385 4386 Catherine - 074 384 3127 RESIDENTIAL Maxine - 078 452 5559 Office - 021 425 8586
David - 072 385 4386 Catherine - 074CONSCIOUS 384 3127 LIVING Maxine - 078 452 5559 Office - 021 425 8586
HOMEFRONT LIFESTYLE
Design all year round For a whole year, design lovers can get their fix of the latest local homeware, fashion and accessories by some of SA’s top talents in an innovative new online exhibition WORDS AND PHOTOS: SUPPLIED
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hanks to the latest interactive video exhibition technology, the fourth edition of NEXT21, a South African product showcase, is available for viewing online for a whole year. Entrance is free and visitors are treated to a digital
walkabout to browse the latest ranges by 23 prominent local designers. The annual NEXT trade exhibition is an export development initiative of the Craft + Design Institute (CDI), a South African nonprofit company that has successfully developed creative people, small
businesses and the craft and design sector at large over the past two decades. This is its first ever digital expo, launched with the support of the City of Cape Town. In previous years the trade exhibition was a week-long affair. Importers, retailers and decorators would head to the Mother City to explore the South African product showcase featuring the latest furniture, lighting, textiles and homeware. This year, the pandemic has demanded a whole new setup – and it’s one that will bring local designers to a wider, global audience. The 23 designers and businesses taking part represent the best of local craft and design and include well-established brands as well as rising stars. They have all received coaching through the CDI’s export development programme, which has supported more than 70 businesses since its inception and resulted in an average increase of 50% in export sales to European countries from 2016 to 2018.
from SA. What’s more, the extended time frame will make it easier for buyers to view the latest products over the coming months. “Last year the CDI seamlessly converted its training and development modules into effective online tools,” says CDI group CEO Erica Elk. “We’re therefore confident that NEXT’s change in format from a realtime event to a virtual offering will benefit the exhibitors in many ways, the most pertinent being the dramatic increase in potential reach. We’re now able to accommodate many more interested parties from many more territories than ever before.”
CITY SUPPORT James Vos, City of Cape Town mayoral committee member for economic opportunities and asset management, says it’s
heartening to see how the City’s strategic business partners have pivoted their operations to adapt to the “next normal” – and the CDI NEXT21 online initiative is a prime example. “Design and innovation are vital for Cape Town’s economic recovery after Covid-19 and we’ll do our part to support the sector,” he says. “The City of Cape Town not only offers financial support to the CDI, we have also collaborated on other programmes in support of the craft and design sector. This partnership has delivered many successes including the training of SMEs, product expansion, international exports of locally made South African products and skills development.” The exhibition went live on March 25. To browse the products, visit thecdi.org.za/next21.
THE DESIGNERS EXHIBITING AT NEXT21
• Africa Ignite • African Jacquard • Amelia Jackson Industries • Aymara • Barrydale Hand Weavers • Bili BraWear • Chic Fusion • Chimpel • Ckho Ceramique • Cotton Tree • Design Afrika • Eco Design Furniture • Head On Design • Macassar Pottery • Minima • Modern Gesture • Mors Design • Ozzy Eco Decor • Saks Corner • Studio Stirling • Unique Driftwood Creations • Wren • Zizamele Ceramics
GLOBAL EXPOSURE The most recent two events drew dozens of international trade buyers from countries such as Denmark, France, Sweden, Italy and the US. But now there are fewer barriers to entry for international trade and an even greater number of international buyers – and media entities don’t have to leave the comfort of their home to explore the latest crafts
“The most pertinent
advantage is the dramatic increase in potential reach” Erika Elk, CEO, Craft + Design Institute
A
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FOCUS ON: LION PRIDE LIFESTYLE ESTATE ADVERTORIAL
On trend and accessible Estates such as Lion Pride that align with global trends towards healthier, more balanced lifestyles are rising in popularity and represent a sustainable investment WORDS AND PHOTOS: SUPPLIED
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he mantra location, location, location is often the overriding factor when making the final decision about a new home but today it is not only the area that is important but also what is on offer there. Globally the lifestyle property market is geared towards providing design and development that have people’s wellbeing at heart. “Collectively, we must shake up our thinking: healthy homes are as important as immunisations; parks, paths and plants are as beneficial as prescriptions; friends and neighbours are far more important than
Fitbits,” says Katherine Johnston, a Global Wellness Institute research fellow. “All the industries that create our home environments – real estate investors, urban planners or designers, architects, transportation planners, the construction industry – play a massive role in human health. And they need to partner to meet the desperate need and fastrising demand for healthier homes and communities.”
HEALTH AND WELLNESS In SA, estates such as Lion Pride Lifestyle Estate near Fourways in Gauteng are providing amenities and services that are in line
with health and wellness trends and, moreover, making this lifestyle more accessible to middle-income earners than ever before. The development has beautifully landscaped green areas with children’s play parks and walking, jogging and cycling trails. The urban landscape design reflects the natural inspiration: curved sidewalks with flowing lines and water-wise indigenous plants create a tranquil atmosphere, while wooden hopping logs, boulders and water fountains serve as organic play areas for children. “It is extremely important to us that our clients know when they buy a property at Lion Pride it is a solid
investment that will keep growing in value,” says Central Developments director Izaak Wolmarans. “To ensure this we established an overarching homeowners’ association (HOA) for the eight security villages within the greater development. As the developer, we will manage this nonprofit company for five years after the last property has taken transfer. “This HOA will oversee the upkeep of the public infrastructure shared among the eight estates – the main entrances, council roads, sidewalks and public amenities, including the 17ha protected wetland that is a main feature at Lion Pride – ensuring that it remains
perfectly maintained for the residents to enjoy.”
SOUGHT-AFTER LIFESTYLE Buyers earning a combined gross monthly income of R35,000 qualify to secure a full-title stand with a fibreready freestanding house priced from only R1.15m. “Estates offering this quality lifestyle usually cater for higher-income earners but Lion Pride now makes this sought-after lifestyle available to hardworking middle-class South Africans,” says Wolmarans. “It’s a solid investment that is already seeing 11.5% returns since the launch in September 2020.” Lion Pride is the result of a collaboration between
Cosmopolitan Projects and Central Developments, SA’s largest residential development group. Buyers will appreciate knowing their investment is through a developer who has established a solid track record delivering 65,000 quality houses over the past three decades. “People are buying in on the promises of a convenient, quality lifestyle and green spaces where they can
escape the hustle and bustle of city life. We want to make sure we deliver on that. We will ensure the estate remains in pristine condition for as long as we are actively selling houses there and then for an additional five years beyond that. We envisage that commitment to be about 10 years. During this period, we will work closely with the residents and respective HOAs to pass on the skills and knowledge needed for
the day-to-day running of the overarching HOA. Only then will we hand over its management in its entirety to the community HOAs,” says Wolmarans. Lion Pride features stateof-the-art security, gated entrances for each of the eight estates within the development and fibre internet connectivity. A private school and shopping centre will also be established by 2023.
RETURN ON INVESTMENT FROM COSMO CENTRAL GROUP’S HOUSES SKY CITY R370,000 2017
R603,000 2021
13% capital growth per annum
R1.088m 2021
8% capital growth per annum
R1.785m 2021
11.5% capital growth in less than one year
LEOPARD’S REST R686,000 2015
LION PRIDE GET IN TOUCH Tel: Central Developments team 063 292 9914; Cosmopolitan Projects team 010 045 9099 lionprideestate.co.za
R1.6m 2020
HOMEFRONT INVESTMENT FOCUS
Why buy off-plan? Harbour Arch, an Amdec Property Developments project in Cape Town
The benefits of buying a home off-plan often include tailor-making elements such as layout, fixtures and fittings. We look at some appealing development options WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
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he impact of the Covid-19 pandemic continues to motivate people to reassess their priorities and make changes towards achieving a more balanced and sometimes more cost-effective lifestyle. This shift is evident in the residential property market, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
“In SA, the seemingly ever-resilient residential property market has historically been one of the few investments that has acted as a hedge against previously rampant inflation. Property investment as an asset class tends to be less prone to extreme bouts of short-term volatility.” To mitigate risk for those who have no appetite or financial means to assume high risk, he says, property investment should be regarded as a medium- to
Ellipse Waterfall in Midrand
long-term investment of at least five to six years. “This will allow for absorption of associated costs such as transfer duty when buying and the consideration of any capital gains tax when selling. That said, short-term speculation can produce excellent profit for the savvy investor. In certain markets buying off-plan now can yield significant upside returns even before the time of transfer,” says Golding. When buying a property off-plan the most important consideration is to research thoroughly the developer and their ability to deliver on their promises. Over the years the industry has been marred by unscrupulous developers who are unable to fulfil their agreements with buyers.
TRACK RECORD It is crucial that you only buy off-plan from a reputable developer who
has a proven track record. Check, for instance, how many houses they have sold off-plan and delivered successfully within the agreed time frames and quality standards. Often people who buy off-plan do not receive what they paid for or the delivery is delayed significantly. In the worst cases, nothing is delivered at all. Buying off-plan from a reputable developer offers certain advantages. The first phase of a new development is always competitively priced to stimulate sales. Early-bird buyers who invest off-plan will have more to choose from among the prime stands in the development. They will also see accelerated capital growth compared with people who buy later when the development is established. By the time their home is built and they move in, their investment will have grown
significantly in value. For example, at Cosmopolitan Projects’ Lion Pride development, launched on Malibongwe Drive in September 2020, a 188m 2 house bought for R1.6m is now selling for R1.785m (11.5% capital growth in less than a year). And in 2020 the first phase of its development Capital View in Pretoria sold out in only five months. The next phase has just launched, with full-title houses that can be bought off-plan to give buyers the same opportunity.
FREEDOM TO CHOOSE Another advantage of buying off-plan from a reputable developer is that you get a new house without enduring the designing and building process yourself. You don’t have to worry about finding a reliable contractor and dealing with all the construction issues either. In addition, you have the freedom to choose your
preferred finishes and make a few plan changes (more so with full title than with sectional title properties, which give you less freedom to make amendments). Craft Homes makes it possible to buy a range of properties online. Buyers are invited to register for the launch of its latest developments via the interactive Craft Homes website. A new development of two- and three-bedroom homes priced from R899,000 is launching in Ermelo at the end of May 2021. Another option, Mayberry, is launching in June 2021, with a mix of exclusive two-bedroom, two-bathroom apartments selling from R1,149,999, as well as freestanding threeand four-bedroom homes. Buyers looking for exclusivity and a more boutique feel may be interested in Amberwood, a Craft Homes development of 18 freestanding duplex
homes priced from R2.4m on Waterloo Road in Bryanston.
CAPITAL GROWTH Investment in a project such as Ellipse Waterfall, the luxury high-rise development in Midrand, means as much as a twoand-a-half-year wait from when you buy the apartment off-plan until you take delivery of it. “Investors will see capital growth for that period, which improves as the precinct develops,” says Kent Gush of Kent Gush Properties. “People who bought during the initial launch phase are seeing 10% to 15% growth in value. Buyers who invest now at the current interest rate and put down a 10% deposit will be almost cash neutral from Day 1.” Gush launched Ellipse Waterfall in a very soft market in November 2018. He says it’s the most successful project he’s ever
Lion Pride Lifestyle Estate, north of Johannesburg
undertaken in the most difficult market he’s experienced in 36 years. “We’ve sold more than 351 apartments to the value of just over R1bn in close to two-and-a-half years.” Unique selling points include the development’s magnificent architecture and the fact that Waterfall works as a precinct. “Every touchpoint is triple A-grade,” Gush says. “The quality of the finishes is as good as that of a luxury apartment in Sandton, but the units are smaller. Of the 272 apartments launched at the Newton and Kepler towers, 30 are still available for sale. “At the end of April we broke ground at Cassini, the third and tallest tower, where we’ve sold 121 of the 180 apartments. On its ground floor the 1,100m 2 Luna Club will offer members features such as a gym, heated lap and leisure pools, private dining facilities and a wine cellar.”
Amdec Property Developments MD Guy Gordon says buying off-plan is a great choice whether you’re buying to rent or to live. Perks include being able to enjoy a new unit that no-one has ever lived in and possibly securing a higher rental as a result. Buyers will also save on transfer duties and VAT, which are included in the purchase price. “Mixed-use developments such as Harbour Arch in Cape Town represent the pinnacle of convenient, contemporary living, making them an extremely attractive proposition for savvy investors looking to take advantage of the lowered interest rate and favourable lending conditions,” he says. Because the dates of transfer and occupation don’t always coincide, you need to be prepared to pay occupational rent and have money set aside for that.
A 100% tax deductible property investment, on a world class golf estate, for seasoned luxury property investors. From R4.2 million
100% tax deductible property investment Low Risk Up to 95% funding available With Section 12J ending on 30 June 2021, this is one of the last chances for investors to take advantage of the tax
incentive and invest in property, with apartments fully serviced and managed by an on-site team.
Contact: Mareli Fotheringham 082 414 5276 mareli@gritrealty.co.za
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FOCUS ON: UPPER EAST SIDE, CAPE TOWN ADVERTORIAL
Opportunity knocks
The recent launch of units at Upper East Side in Salt River through a Section 12J fund opens the door to a new investment opportunity that could earn you a 100% tax deduction WORDS AND PHOTOS: SUPPLIED
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lyt Property Investment has partnered with JSE-listed Real Estate Investment Trust Spear Reit Limited to offer property investors direct ownership in The Upper East Side mixed-use precinct in Salt River – this opportunity gives investors a guaranteed rental yield as well as a tax rebate through the Section 12J fund. Up-and-coming Salt River and Woodstock are among Cape Town’s most vibrant neighbourhoods. Just 10 minutes from Cape Town’s CBD, these suburbs are strewn with cool craft breweries, hip eateries and cafés and trendy boutiques, art galleries and interior design studios. The Upper East Side
hotel on Brickfield Road, Salt River, forms part of a mixed-use development that includes residential apartments, office space with co-working options, a retail section as well as restaurants and bars. The Flyt team have negotiated an attractive opportunity for their investors: not only would they buy into The Upper East Side via the Flyt Select Fund, facilitating an income tax rebate of as much as 45% via Sars’ tax incentive known as Section 12J, they will also enjoy a five-year guaranteed return of 7.5% (after all property-related expenses). The first three years are underpinned by a head lease with Spear Reit Limited, whereas years four and five are guaranteed by Anuva
Investments. The units will be fully managed by Multi Rooms Management. Owners will also benefit from seven days’ own use of their unit at up to 30% discount on accommodation rates throughout the year. Offering a substantial tax break, the Flyt Select Fund, managed by Section 12J leaders Anuva Investments, has proved especially popular with investors thanks to its finance facility. Speaking to investors during an online launch, fund manager Ryan Flowers explained: “Investors are able to select specific units in the development and receive up to 95% funding. The tax-efficient structure allows investors to use their Sars tax refund towards the purchase of their
investment and then assists in financing the balance – essentially, investors get up to 45% back.” According to Spear Reit Group CEO Quintin Rossi, the transaction gives investors a rare chance to enter the hospitality sector by investing on a secured income return basis. The Section 12J tax incentive expires on June 30 2021, so interested parties have until then to invest via the structure and claim their tax certificates. There are 183 studio and one-bedroom sectional title units available at Upper East Side, all fully furnished and serviced. Prices range from R734,000 for a studio hotel room to R3.5m for the largest loft apartment suites.
GET IN TOUCH Darryn van der Poel Tel: 083 258 6316 E-mail: darryn@flytproperty.co.za Justin van der Poel Tel: 076 095 2846 E-mail: justin@flytproperty.co.za flytproperty.co.za Flyt Select Fund manager Ryan Flowers