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HOMEFRONT 13 OCTOBER 2016 WWW.BDLIVE.CO.ZA
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1326OCTOBER 2016 WWW.BDLIVE.CO.ZA WWW.BUSINESSLIVE.CO.ZA JUNE 2020
MUST-READ
Repurposing office buildings PAGE 19
VREDEHOEK, CAPE TOWN
VREDEHOEK, CAPE TOWN
Student housing design trends
YOUR PEACE IN THE CITY
VREDEHOEK, CAPE TOWN
PAGE 22
YOUR PEACE IN THE CITY YOUR PEACE IN THE CITY From R2.495 million (incl. VAT) no transfer duty
Africa: new investment options From PAGE 24
• Back-up power supply R2.495 million (incl. VAT) no transfer duty
• Sea, mountain and city views
an award-winning lifestyle and parkland development situated in Gauteng’s “new north” CAPE TOWN OEK, E TOWN CAPE TOWNVREDEHOEK, VREDEHOEK, CAPE VREDEHOEK, TOWN CAPE TOWN CAPE VREDEHOEK, TOWNSteyn City, CAPE TOWN VREDEHOEK, VREDEHOEK, CAPE CAPE VREDEHOEK, TOWN TOWN VREDEHOEK, CAPE TOWN CAPE TOWN VREDEHOEK, CAPE VREDEHOEK, TOWN
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Benefits of buying off-plan Purchasing off-plan is an easy way to get onto the property ladder or extend your investment portfolio. Here is a rundown of developers’ latest and most appealing off-plan offerings PAGE 20
www.TheVera.CapeTown
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ORANJEZICHT, CAPE TOWN
VREDEHOEK, CAPE TOWN
ORANJEZICHT, CAPE TOWN ORANJEZICHT, CAPE TOWN ORANJEZICHT, CAPE TOWN
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From R2.495 million (incl. VAT) no transfer duty
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VAT) no transfer duty
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www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheCedar.CapeTown www.TheVera.CapeTown www.TheCedar.CapeTown
*T&Cs apply
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HOMEFRONT PROPERTY TREND
Rethinking work and living spaces SA’s innovative residential and commercial developers are repurposing office buildings to create smaller rental opportunities. HomeFront investigates WORDS: HELENE MEISSENHEIMER :: PHOTOS: SUPPLIED
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tatistics in the first PayProp Rental Index for 2020 (in March this year, just over 20% of tenants were in arrears, increasing to almost 24% in April) make it clear the commercial property sector was already under pressure before the Covid-19 pandemic. Lansdowne Property Group CEO Jonathan Kohler says the Sandton CBD had office space vacancies for months before the lockdown. And with businesses unable to earn an income for three months, subsequently having had to close their doors, pressure is mounting on commercial landlords and the entire sector as a whole. A new remote working culture is changing the perception of needing a large, expensive office from which to run a business. FNB property analyst John Loos says companies may reduce the amount of office space they occupy after lockdown. “This is not a trend change, though. Improved technology has been driving a greater remote working trend for some years. Covid-19 has merely sped it up,” he says.
OFFICES TO LET “The struggling economy means many companies will get smaller and more office
space will become available in a market where there already was an oversupply in some areas,” says Paragon Architects director Estelle Meiring. Some businesses unable to pay their full rental are now subletting their unused furnished office space. Kohler says this presents the opportunity to companies to hire fully furnished office space and only pay per square metre for the occupied space – a win-win scenario. “Lansdowne is moving into new offices on August 1 and we have taken advantage of another company paying for the entire tenant installation and the cost of the furniture, and we are just paying per square metre of the space we are using,” Kohler says.
SPATIAL DESIGN The sharing of office space is another pre-existing trend that is expected to be impacted by Covid-19. Companies had begun to introduce this concept to save on overheads by the time the pandemic hit, but Lew Geffen Sotheby’s International Real Estate CEO Yael Geffen says with the continued need for social distancing the popularity of co-working is unlikely to last. Meiring agrees the sharing
of office space will probably be on the back foot for a while because people will prefer control over the hygiene of their work area now. However, offices will not disappear completely. Meiring says one of the reasons some people are returning to work in an office is the energy, creativity and knowledge share that comes from collaborating in one space. In future, clever design in office furniture and spatial planning may encourage this collaboration yet accommodate the need for social distancing. She expects that many coworking spaces will rework the planning of open areas to improve ventilation or even include outdoor facilities in gardens and on patios. One trend that is sure to experience a reversal is densification to save on costs. “According to most predictions, the Covid-19 outbreak is only one of several pandemics to come. Therefore the spread of pathogens in office spaces is a concern that will need to be addressed. Reducing densities is the first and obvious step to do this,” says Meiring.
HOUSING NEED We can also expect that office buildings will be repurposed into residential units, says Meiring, as
Melrose Arch’s mixed-use precinct gets full marks for location, accessibility and convenience there is still a shortage of affordable residential space in SA. “Not all building layouts lend themselves to conversion, but where it is possible this could prove a more cost-effective option compared with new-build developments.” A good proposition for a developer-buyer could be an office building with above-ground parking levels. Apartments typically require fewer parking spaces, so some or all of the parking levels could be converted into residential units. Kohler says several companies are taking advantage of the oversupply of empty commercial spaces. These are bought at reduced prices and rezoned as residential rental properties. “The demand for affordable residential rental properties, particularly in the R5,000 to R7,000 range, is very high at the moment,” he says. Rezoning can take up to 18 months, so there are holding costs to consider while waiting for the process to be finalised. Africrest Properties is one of the companies perfecting this approach with great success in areas such as Randburg.
MIXED-USE DEMAND There has been a growing
Innovative new non-touch technologies are planned for developments like One On Whiteley in Melrose Arch
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EDITORIAL TEAM Editor: Debbie Loots Designers: Samantha Durand & Anja Bramley
interest in owning or renting homes in security estates that offer access to good schools, shopping and recreational facilities. Amdec Property Developments MD Guy Gordon believes rental demand within the mixeduse sector will only pick up in the current climate. “The Covid-19 crisis has emphasised the importance of location, accessibility and convenience in the investment equation, coupled with the need for professionally managed properties where safety, security and hygiene are paramount,” he says. Gordon says the Melrose Arch mixed-use precinct in Johannesburg is a good example of such a development. During the lockdown, residents here enjoyed being able to exercise within an accesscontrolled, fully secure, sanitised environment. Kohler agrees. “People are going to want to live, work, exercise and socialise in large lifestyle-based developments,” he says. The property sales figures for the past few months underscore these sentiments. Munyaka Lifestyle Estate, a R9bn development in Waterfall
by Balwin Properties, is a case in point. “Just before lockdown, Balwin sold more than 530 apartments to the value of more than R780m over the launch weekend,” says Kohler. “This is an unbelievable achievement for any developer.” Considering global predictions that the viral threat will continue in coming years, increased demand for safety and hygiene measures in new residential projects is a given. According to Gordon, investors will be attracted to multi-use developments where appropriate physical distancing, sanitisation and non-touch technologies have been incorporated as standard features. At One on Whiteley in Melrose Arch and Amdec Group’s Harbour Arch development, currently under construction in Cape Town, contactless palm swipe technology to operate doors and access-controlled areas, self-cleaning elevators and facial and number plate recognition are on the cards. Gordon argues that such additions are indispensable in ensuring the safety of residents and something investors need to be cognisant of before signing on the dotted line.
PUBLICATION ADVERTISING SALES
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HOMEFRONT
Munyaka Lifestyle Estate, a Balwin Properties development in Waterfall, Midrand
INVESTMENT FOCUS
Benefits of buying off-plan Purchasing off-plan is an easy way to get onto the property ladder or extend your investment portfolio. Here is a rundown of developers’ latest and most appealing off-plan offerings
WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
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obody could have foreseen the impact of the Covid-19 outbreak on life in general, let alone real estate. However, the digitalfirst property company PropertyFox anticipated a need for continued evolution of on-demand experiences in 2020 – and it was right on the money. With more millennials entering the market for homes, PropertyFox predicted that real estate companies would use big data and machine learning in smarter ways to make consumer experiences even more seamless. “At the end of a decade of property industry disruption, we saw homes sold online for the first time, with low commissions shaking up traditional notions of how property should be bought and sold,” says PropertyFox CEO Crispin Inglis. As investors are fast getting used to the idea of a purely digital purchasing experience, buying off-plan – with its bespoke offerings and benefits – is suddenly looking very attractive.
Contemporary living
Tricolt’s Ellipse Waterfall in Waterfall City, Midrand
“Now, more than ever, the discerning investor should be focusing on the basic fundamentals of property investment,” says Amdec Property Developments MD Guy Gordon. An investment where you don’t have to worry about maintenance is highly desirable. That is why a large number of investors are buying off-plan.
“The Covid-19 crisis is reshaping the way people choose to live, so buyers and tenants need to be far more discerning before committing to a lease or a bond,” says Gordon. “Mixed-use developments such as Harbour Arch in Cape Town represent the pinnacle of convenient, contemporary modern living, making them an attractive proposition for savvy investors looking to take advantage of the lowered interest rate and favourable lending conditions.” The South African Reserve Bank’s latest reduction of the repo rate in May saw the prime lending rate fall from 7.75% to 7.25%. Buying off-plan is a great option whether you are buying to let or to live in the property yourself. Sectional title units are the most common type of real estate sold this way, with many developers offering a choice of layout or floor plan for units in various sizes within the same complex. Depending on when you buy into a development, you could be offered a range of fixtures, finishes and paint colours, allowing you to tailor your new spot to your taste.
Reasons to buy If you purchase off-plan from a developer, the transaction does not incur transfer duty. It is also known as a good investment for rental returns. Time is on your side too, says Kent Gush of Kent Gush Properties. “When you’re investing in something like Ellipse Waterfall, a luxury high-rise tower in Midrand,
there’s as much as a two- to two-and-a-half-year wait from when you buy the apartment until the date you take delivery of it. You’re enjoying the capital growth for that period, which is further enhanced as the precinct itself develops. “People who bought in the beginning are already seeing 10-15% growth in value. In addition, if a buyer puts down a 10% deposit at the current interest rate of 7.25%, they’re almost cash neutral from day one,” he says. “We haven’t seen that situation for some time in the property market.” Gush says his company never overpromises when it comes to rental yields. “We’re talking about 7-7.5% at Ellipse Waterfall.” According to Steyn City sales manager Lambert Bezuidenhout, purchasing off-plan has long been touted as the ideal way for investors or first-time buyers to purchase property, as their payment commitments start only on delivery. This can be up to 12 or 18 months from the date of purchase – sometimes even longer. “The price of these units typically includes VAT. That means the purchaser can finance the tax portion of the purchase price rather than paying transfer duties upfront in cash on private sales or resales, which puts a higher burden on cash availability for the buyer,” Bezuidenhout says. “Off-plan purchasers must realise that their property is forwardpriced to allow for financing and holding costs during the construction period.”
HOMEFRONT
The Woods in Kyalami, by Craft Homes
“The Covid-19 crisis is reshaping the way people choose to live, so buyers and
tenants need to be far more discerning before committing to a lease or a bond” Guy Gordon, MD, Amdec Property Developments
WHERE BEST TO INVEST Selected developers recommend their most attractive off-plan options: Reinier van Loggerenberg MD, Craft Homes
Lambert Bezuidenhout Sales manager, Steyn City
Kent Gush Kent Gush Properties
Steve Brookes Founder and CEO, Balwin Properties
“We launched Ellipse Waterfall in Midrand in a very soft market in November 2018. It’s the most successful project I’ve ever undertaken in the most difficult market I’ve experienced in 35 years. We’ve sold more than 300 apartments with a value of more than R850m in the past 18 months. The project has magnificent architecture that has captured the imagination of the public. And Waterfall as a precinct works. It is almost Dubaiesque. Every touchpoint is triple A-grade. The
quality of the finishes is as good as a that of a luxury apartment in Sandton; only the units are smaller. There are 45 apartments left of the 272 launched in the Newton and Kepler towers. We’ve sold about 50% of the 180 apartments in Cassini, the third and tallest tower. Luna Club, which covers 1,100m2 on the ground floor of Cassini, incorporates a gym, a heated lap pool and a leisure pool, private dining facilities and a private wine cellar.” – Kent Gush of Kent Gush Properties
“JSE-listed Balwin Properties launched Munyaka Lifestyle Estate in Waterfall, Midrand, in the early stages of the coronavirus pandemic, selling 555 apartments totalling R850m in four days. One of the major attractions of this development is a crystalclear lagoon the size of seven rugby fields. Other facilities include a six-star Green Star-rated lifestyle centre (with free access to a gym), squash courts, an on-site concierge, restaurants, meeting rooms, a heated pool,
laundromats, a cinema room, a wellness spa and a children’s play area. A total of 5,020 apartments will be developed at Munyaka over the next eight years. Oneto three-bedroom units start from R799,000.” – Balwin Properties founder and CEO Steve Brookes “Craft Homes traditionally enjoys more engagement online, with appointment booking forms and virtual tours available at crafthomes.co.za. Buyers can reserve or purchase units online that offer the best value in niche
markets. Craft Homes offers developments that cater for what the market wants at different life stages. The Woods in Kyalami, next to Kyalami Corner, has a mix of apartments and freestanding homes. Phase 1 comprises 63 apartments and 52 duplexes, whereas Phase 2 is planned with 102 apartments and 43 duplexes. The development is surrounded by a green belt and incorporates a park, a clubhouse and kids’ play area.” – Craft Homes MD Reinier van Loggerenberg
OWN A PENTHOUSE IN MAURITIUS
r18,5 million qualifies for Mauritius residency INCLUDES LIFETIME GOLF MEMBERSHIP
APARTMENT Features MAURITIUS
3 bedrooms (3 en suite) 2 parking bays
family/tv room living room
private swimming pool entrance hall dining room
scullery oven and hob lift access
Fully furnished with imported furnishings
Mont Choisy beach is recognised as one of the most beautiful on the island Mont Choisy Beach and Golf estate is ideally situated between Grand Baie and the well known Mont Choisy beach which gives the estate the best location for buyers wanting a larger estate with amenities.
Renowned architect Stefan Antoni’s inspired celebration of contemporary island luxury An 18-hole championship golf course designed by award-winning Peter Matkovic The estate is nestled between one of the most beautiful beaches in Mauritius, Mont Choisy and the world famous town of Grand Baie Easy access to the schools, medical facilities & business opportunities of Grand Baie A Country Club with tennis courts, gym, swimming pool, spa, clubhouse & restaurants A Beach Club with pool-side restaurant & cocktail bar, offering a wide range of watersports
FOR FURTHER ENQUIRIES, CONTACT: ANGIE THAVER +27 (0) 31 566 9500 . +27 (0) 79 979 9405 . ANGIE@EDISONCORP.CO.ZA
HOMEFRONT HOT TOPIC
The future design of student accommodation With universities operational again, student housing and short-term apartment lets are in the spotlight. How will Covid-19 and possible future pandemics affect new building design going forward? WORDS: DEBBIE LOOTS :: PHOTOS: SUPPLIED
THE SHAPE OF THINGS TO COME? Student accommodation group Stag African has engineered a patent pod design that limits personal interaction to only eight people.
6 on Nansen, a student housing development in Observatory, Cape Town
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A’s university students are back on campus under strict Covid-19 protocols, which are part of the department of higher education’s plan to save the 2020 academic year. Students living in university accommodation have to adhere to strict safety measures and practise social distancing to ensure they do not contract the Covid-19 virus on campus. This may be a good shortterm solution but relooking the design of student accommodation is crucial right now. “Well-designed accommodation could be key to managing the spread of Covid-19 among SA’s student population,” says Sean Kenealy, an architect, urban designer and director of the student accommodation group Stag African. The company has pioneered an innovative green alternative to student accommodation and is currently developing a 2,047-bed student village at the University of Fort Hare in the Eastern Cape, the largest student accommodation development by a public university in the country. Student housing in SA usually accommodates as many people as possible in a dense hostel-type setup. “A single Covid-19 infection under such conditions could yield an uncontrolled outbreak
within weeks, if not days,” says Kenealy. “We need to implement ways of limiting social interaction without losing the vitally important aspect of community.”
INNOVATION Stag African has patented a pod design that recreates a home environment and houses eight students per pod. It consists of double or single bedrooms and a common kitchen and living area. Unlike older institutional-type student housing designs that include long passages with cubicles on both sides, often with hundreds of students per floor, such a pod limits personal interaction to only eight people. Being part of a community is important in terms of students’ success, Kenealy says. “More than 60% of learning at tertiary level occurs outside a lecture hall within the communities students create on campus – this is known as the hidden context of learning. Communal spaces are where mentorship and tutorship happen. Alternative education is as important as formal education.” A shortage of student housing is not a new problem in SA and Kenealy says this is partly due to a lack of innovation. He thinks the current pandemic and possible future pandemics could send student housing design into a new direction. “We have an opportunity now to pause and redefine
the meaning of quality oncampus accommodation; this should take into account community, sustainability and affordability,” he says.
LOCATION, LOCATION Home to the secondoldest university in the country, Stellenbosch has a campus offering worldclass academic and sport facilities. However, apart from its lively student community, the town is also a popular tourist and business travel destination with many historic wine farms and quaint villages on its outskirts. Student accommodation and short-term rental options in the area are sought after and usually in short supply. With strict municipal policies in place, long lead times on development approvals are common. Flyt Property Investment’s newly launched Quivertree apartment block offers fully furnished and serviced studio and two-bedroom units. The development has shown strong rental growth over the past two years, with a good track record and market presence. Quivertree forms part of a formal rental pool managed by an on-site team. Benefits of the system include furnished apartments at no additional cost, quality tenants who fulfil all criteria, a lower financial risk, higher returns thanks to a dedicated on-site managed solution, and no administration hassle.
THE NEIGHBOURHOOD
THE WALKWAY
THE HOME
THE ROOM
The individual is one of 200 students
The individual is one of 32 students
The individual is one of eight students
A room sleeps either one or two students
Quivertree, a furnished and serviced apartment block in Stellenbosch Because it qualifies for Sars’ Section 12J tax break incentive, investment in Quivertree offers a considerable bonus – a 100% tax deduction plus a rental yield guarantee for the first two years of 6.5% after all costs (including rates and levies) are deducted.
ADDED SAFETY The Worx is a new mixed-use development in Dennesig, an area earmarked as the next de facto student hub in this university town, says Pam Golding Properties sectional title agent Vanessa Johnson. It comprises 50 contemporary apartments with top finishes and views, priced from R1.45m. Municipal urban design guidelines here include pedestrian access and the use of nonmotorised transport, as well as a shuttle service to town. The university’s green route, which allows students to walk to campus with additional lighting and access to security, will also be extended to this area. “These mixed-use developments will continue to be an attractive investment opportunity, even in times of economic uncertainty,” says Louise Varga, Pam Golding Properties manager of developments for the Boland and Overberg.
GENERATION GAP With Generation Z now dominating student life
in SA and globally with a different set of needs, expectations and aspirations, it’s no surprise that this group is shaping the built environment. A case in point is 6 on Nansen, a new Cape Town housing development for students and young professionals founded by British-born South African YouTuber and entrepreneur Caspar Lee (25) and Cape Town-based entrepreneur Benji Schaffer (23). Their vision for their company, Proper Living, is to create a contemporary model for 21st-century living aimed at the sophisticated youth market in the R6,000 to R11,000 monthly rental bracket. Offering accommodation packages and state-of-theart security in Observatory, close to the University of Cape Town, this 98-unit project is currently under development and set to launch in December. The development consists of studio, two-, three- and four-bedroom apartments with shared communal spaces suitable for young professionals and students. Safety is a key selling point, with 24/7 guarding and rapid response, stateof-the-art surveillance and biometric fingerprint scanning. On top of that, the Swift holistic digital app platform has been designed to further facilitate safety and connect residents, management and service providers.
Q&A HomeFront quizzed Darryn van der Poel, investment consultant at Flyt Property Investment, about Section 12J funds:
What exactly is Section 12J of the Income Tax Act? It’s a Sars initiative introduced by the government to incentivise and stimulate investment in businesses that create jobs and grow the economy.
How does it benefit the investor? By investing in a registered Section 12J entity, investors are able to reduce their taxable income by the full value (100%) of their investment, reducing their tax liability to Sars. This means Sars will finance up to 45% of the investment, depending on the investor’s marginal tax rate. Anyone is eligible: individuals, trusts and companies.
How does it work? Investments made via a Section 12J fund are put into qualifying companies that are compliant with the rules of Section 12J. Hospitality properties and student accommodation tick the boxes, provided they meet certain qualifying criteria. As Quivertree is a fully managed solution of short-term, serviced and furnished accommodation and has an on-site meal offering, it qualifies as a Section 12J compliant investment. The minimum investment into this development via Flyt’s Section 12J fund is R1m and needs to be held for a minimum of five years. Investors can invest their own cash or opt for one of Flyt’s innovative financed products. This means you are able to invest your tax into quality hospitality property without putting down any of your own money.
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HOMEFRONT PROPERTY NEWS
Africa presents new investment options “The proximity of Pearl Residences to Entebbe International Airport and the capital, Kampala, as well as the International School of Uganda makes it the ideal getaway destination” Farah Bandali, head: Uganda office, Pam Golding Properties
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recent update on Africa’s 2020 economic performance has the continent showing investment promise even in the face of Covid-19. Sweetening Africa’s investment appeal are Mozambique and Uganda, two popular tourist destinations that are expanding their luxury residential offerings with two new developments. In Mozambique, Bazaruto Island View Estate (Bive) is set on 42ha of prime coastal land just outside the town of Vilanculos. The project
includes residential, hotel and business options. “It is an attractive and reliable investment prospect for retirees and property investors or even an opportunity to expand a business portfolio,” says Ettiene Erasmus, property developer at Mozambique Property Developments & Investments. The first stage of the project has begun with the construction of show houses. Prices start from R275,000, with onebedroom houses selling for R875,000 in the Bive private residence section.
In Uganda, a new luxury development called Pearl Residences (above) is taking shape on the shores of Africa’s largest lake, Lake Victoria. “The proximity to Entebbe International Airport and the capital, Kampala, as well as the International School of Uganda makes it the ideal getaway destination for locals and investors looking for a sound rental income. It is also perfect for retirees,” says Farah Bandali, who heads up the Uganda office of Pam Golding Properties in Kampala. Part of the Lake Victoria
Serena Golf Resort & Spa, Pearl Residences takes design inspiration from a classic rustic Tuscan village yet retains an authentic African identity. The estate comprises 58 luxury villas and 10 apartment blocks, and each unit type has its own affordable payment plan. The villas all have terraces opening up from some of the bedrooms. They also have double garages and outside parking. “In Uganda, freehold and Mailo landownership rights are exclusively for citizens,” Bandali says.
Cape development breaks ground L
ast week, property development company Horizon Capital Residential handed over its site for The Cedar, to Giuricich, main building contractor for its developments in Oranjezicht, Cape Town. Strict on-site measures have been put in place to ensure a safe working environment for all workers. Set on an old Oranjezicht farm next to The Aster, another Horizon development, The Cedar consists of 18 exclusive units across five storeys.
Prices start from R2.495m (including VAT) and no transfer duties apply. One- and two-bedroom residences can be found on the development’s first three floors, whereas the top two floors are taken up by three luxury penthouses with panoramic views of Table Mountain and the City Bowl. Each penthouse has a private roof deck with a pool or a Jacuzzi; the rest of the apartments open up onto terraces with mountain views and enjoy access to a communal pool and Jacuzzi deck area.
With sustainability being top priority, The Cedar’s ecofriendly and off-grid features include a generator, solar water heating, waterefficient fittings and lowenergy LED lighting. Basement parking, CCTV, access control and electric fencing ensure convenient, secure living. All apartments come with separate storage pods. The development is shortterm letting friendly, with a fully managed service offering investors the opportunity to achieve attractive rental yields.
“Foreigners may only own land or real estate under a leasehold land tenure system, which usually runs from 49 to 99 years, with a renewable clause.” Apart from an 18hole championship golf course, amenities include a marina with 25 berths, 24-hour security, a luxury community centre with a swimming pool, sporting facilities and a mini-mall with a convenience store, a salon and restaurants. Villas are priced from $790,000, penthouses from $684,000 and apartments from $275,000.
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Limited investment opportunity With the prime lending rate at the historically low level of 7.25%, now is the perfect time to purchase. Horizon Capital Residential offers prospective buyers the chance to own an apartment in The Cedar for a R0 bond instalment for the first 12 months from the date of transfer* or receive a R100,000 furniture voucher from Weylandts*. Visit horizoncapital.co.za for more information. *Ts and Cs apply.
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