Property News

Micro-apartment development planned for Cape Town CBD

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nown for their Cape Town’s Southern Suburbs developments, Rawson Developers are set to break ground on their first inner‑city build in Loop Street, The Tokyo. Their previous suburban developments include The Winchester, The Westwood, The Premier and Newlands Peak, which sold more than 100 apartments on launch day despite unfavourable market conditions resulting from hard lockdown.

Says Brad Morgan, new development manager, Rawson Developers, “Our overarching aim is to not only create buildings that enhance an area and boost its potential, but that also provide buyers with sound investment opportunities. The Tokyo will be our first City Centre development, and we’re very enthusiastic about the opportunity to offer an extra promise of investment and interest to the area.” The Tokyo will consist of 15 floors of luxury micro-apartments and a ground floor restaurant and cafe, 24-hour concierge service, business lounge and state‑of‑the‑art fitness centre.

“The Tokyo’s lock-up-and‑go apartments will attract urbanites and travellers alike, and our biggest hope is to inject a renewed life force into one of our city’s tourism hotspots,” says Morgan. “Increased foot traffic in the area will hopefully, in turn, also provide more clientele for local dining and retail establishments that have all felt the undeniable aftermath of a quiet lockdown period.”

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Loop Street is situated between the city’s vibey Long and Bree Streets and is a favoured area for dining, entertainment, shopping and sightseeing, equally popular with locals and tourists. Prices start from R950,000 and the development is set to be completed by March 2023.

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Country estate launches new homes

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itari Country Estate in Somerset West has just released the first of their new development for 2021: Sitari Village Homes, which consists of 12 contemporary, turn-key built homes.

Developed by the Amdec Group in partnership with Kevin Gadd Architects, Sitari Village Homes offers three- to six-bedroom, two- to four-bathroom luxury homes from between 188m2 to 284m2. Prices start from R3m for a three-bedroom, two-bathroom, double garage home, to R3,995,000 for a six-bedroom, three- or four-bathroom, double garage home (VAT included and with no transfer duty payable).

“We’re very excited to bring this first batch to market, says Claudius Combrinck, executive director of Sitari Property Sales. “They offer superb quality and value for money. Construction is well advanced, so an occupation date can be communicated to each purchaser.”

The typical 10% deposit requirement has been reduced to 5% and Combrinck says these homes are arguably their best offering to date. Each Sitari Village home has a distinctive layout with direct access via the double garage, an open-plan lounge and dining room with exposed trusses, a modern kitchen (some with a scullery), main bedroom en-suite and another full bathroom.

Larger options include a guest bedroom or study. There’s also a covered, tiled patio and other optional extras to tailor‑make homes.

The designs feature one of two interior mood options complementing the finishes from top-quality brands including a Smeg stove with a multifunctional thermos-ventilated oven, Eezi Quartz stone countertops, aluminium doors and windows, Hansgrohe and Geberit sanitary ware and a solar geyser.

Says Combrinck, “Our research shows there’s currently no similar offering at this price within gated estates in the Helderberg basin. With only 12 available, interested parties should act fast.”

Positioned within Sitari Country Estate, residents can enjoy easy access to estate amenities, including a cycling and jogging route, residents’ Windmill Park, and the planned 2,2km Orchard Lane. The estate also offers a Curro independent school, a mall, coffee shop and the residents-only gym is set to open soon.

Increased demand from millennials for US citizenship

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ith major industry, excellent job prospects and sound investment opportunities, the states of Florida and Texas are currently the most popular destinations where South Africans applying for residency and then citizenship via the USA’s Immigrant Investor EB-5 Programme, choose to live, says Andrew Golding, chief executive, Pam Golding Property group.

He says they have noticed an increased demand from especially millennials. “The EB-5 Programme – which offers the opportunity to invest in the USA and become a resident – remains the quickest and simplest route to gain lawful and legitimate access to the USA for applicants and their immediate family to live, study and work there,” says Golding.

“By investing $900,000 (±R13m) in a US government approved development in a designated targeted employment area, one is guaranteed Green Card status, while your capital is protected in an active investment in the US – with full return of funds after the end of the project, and you are eligible for a US passport after five years.” A further benefit is that once you’re a US passport holder, you enjoy visa‑free travel to approximately 160 countries.

Chris Immelman, who heads up Pam Golding International, says high net-worth individuals, as well as families, are looking at immigration options. This includes retirees, millennials and families from Gauteng, followed by the Western Cape. “Interestingly, the effect of the pandemic in the USA has not impacted enquiries from applicants in any way – it appears the investors are more positively focused on the ability of the US economy to regain its traction and dominance,” says Immelman.

Pam Golding International has partnered with American Dream to help Pam Golding clients secure an alternate future with assistance from individuals with a proven track record, says Immelman. “American Dream has a 100% success rate, with extensive knowledge of the processes and requirements and facilitating each step of the way.”

Says Stuart Ferguson, CEO of American Dream, “Immigration into the US is a complicated and highly regulated process but by investing in the EB-5 Investor Programme, you have a streamlined process to follow and once the application has been successful, you are able to live in America.

“We’re also seeing a faster adjudication process, with our current processing timeframe dropping from approximately 20 to 13 months, and with South Africans enjoying the advantage of visa availability and priority adjudication.”

For families with school-going children, this programme allows learners access to leading top‑ranking schools, which is coupled with the high standard of tertiary education you will have on your doorstep. Furthermore, in the 2020 Best Countries report, the US public healthcare system ranked in the top 15 globally.

Says Immelman, “The investment opportunity we currently offer, is the Gainsville student accommodation project, a new 12-storey building with approximately 205 units and 563 beds situated in Gainsville, Florida, only 0,5km from the University of Florida campus.”

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