Pay less than R2k pm to invest in exclusive Cape Town hotel-style apartment from R1.6m
Category Property
Luxury apartments in Cape Town's city centre are sought-after now more than ever, as the historically low interest rate offers investors a window of opportunity.
In a deal designed to take the stress out of investing in rental property, The Rockefeller developed by Ryan Joffe Properties and Narrative is offering upmarket, hotel-style living apartments for R1.515 million together with a four-year rental guarantee.
This would see investors pay less than R2k a month for the next four years for a property located on prime real estate next door to the R14-billion Harbour Arch mixed-use precinct.
The first 12 floors of the 395 apartment residential development are already sold out.
The Rockefeller offering has since been extended with the addition of six extra floors - offering masterfully designed facilities across a mix of property options - now available from the 12th to 18th floor. These are scheduled for completion right in time for the Cape Town summer season, in early December 2021.
Investors can reserve their unit online, or click here to get pre-qualified for one of the short-stay, 25m² units on sale from R1.515 million. The below table details how the intricacies of the rental guarantee income and bond payments would work, based on an interest rate of 7%. The costs include levies and rates.
Owners also have the option of two-weeks use of their property, with Newmark Hotels facilitating and managing the rental pool.
The Rockefeller Launch Deal
The developer is further incentivising investors by offering the first 30 purchasers a complimentary furniture package from Source Interior Brand Architects, valued at between R120 000 - R150 000 (excluding VAT).
What happens after the four years?
Investors can extend their lease agreement and put the unit back into the hotel pool managed by Newmark. Any additional admin fees would be calculated and included in the updated lease agreement. Current rates and levies are estimated at R615 and R875 respectively.
What about Parking?
While there is no basement parking at The Rockefeller, Ryan Joffe Properties are developing a parking lot located across the street from the development, with preference and availability given to Investors. Parking bay rental would be an estimated R1 000 per month for a long lease.
Exceptional location and amenities
The Rockefeller is packed full of amenities that service residents and hotel guests' every need.
The ground floor boasts a double volume lobby, 24-hour concierge and security as well as 3 premium restaurant offerings. At the Corner Deli, you'll find artisan coffee, salads, wraps, pastries, and a range of other delicious snacks in eco-friendly ready-to-go packaging, while The Empire serves wholesome breakfasts, wood-fired pizzas, juicy burgers and mouth-watering Lindt white chocolate cheesecake.
Prime Cut Steakhouse and Seafood is an intimate 40-seater grill serving wet- and dry-aged beef, shellfish and Knysna oysters accompanied by a world-class wine list. Alternatively, diners can grab a light bite at the standing Miso Sushi and Noodle Bar. There's also a reasonably priced convenience store and room service available. One floor up, you'll find the fitness centre, drop & go laundromat, conference facilities and meeting rooms, as well as the Ideas Cartel, a world-class co-working space for residents and hotel guests.
The magnificent rooftop Studio Bar and pool have sweeping views of Table Bay, the city and Table Mountain. The swimming pool has been specifically designed to be enclosed by large windows and a retractable roof to make it available for use throughout the year. Newmark Hotels facilitates and manages the hotel rental and has a wide range of premium units that are impeccably appointed with lavish décor accents offering a stately refuge from the inner-city bustle.
Author: Property 24
