|
BRIEF: Our clients had visited Cape Town on three occasions and loved the area so much they wanted to buy a property for their retirement in 10 years time. Preference was for a modern apartment within walking distance of the beach and shops in Hout Bay. They wish to rent the property out on a long term basis which Space will also assist with.
AREAS DISCUSSED: Hout Bay
BUDGET: Euros 200,000
OPTIONS PROPOSED: The shortlist was dominated by small family homes with three bedrooms (including one with four bedrooms still within budget), many of which were situated in small security complexes, most within walking distance to the beach, which was a key priority for this client.
This brief became a moving target as the rand strengthened considerably against the Euro from the initial contact with the client to the actual transaction, giving Space a bigger challenge as the budget decreased. However, we were able to find a very robust shortlist for this client of seven properties that met the criteria.
Only one apartment made it onto the shortlist, yet, as we predicted, this was the chosen property by our Scottish clients. We knew that this new block would give excellent value for money as we knew the history of the apartment and felt we could get a great price for the client. It had been marketed for a number of months at 2.9 million so an asking price of 2.55 million already looked quite interesting. Situated within 3-4 minutes walk of the actual beach, opposite a small parade of shops and cafes and a stone’s throw to the world famous Chapman’s Peak Drive and it’s hotel, this one year old penthouse offered ultra modern open plan living, finished to a high standard which we knew would give an excellent rental return.
 Location of chosen apartment
Click on the map to see larger version.
The apartment has three bedrooms and two bathrooms (main ensuite) within 146m2 of internal space plus a 24m2 balcony. Underground there are two secure parking bays plus, the fact that the property is on the top floor of an apartment block provides great personal security too.
We managed to negotiate almost 10% off the already reduced asking price so that our client paid 2.3million ZAR (the price the owner paid originally for this apartment.) Space will manage the property and also prepare it for rental including sourcing and installing American Shutter Blinds.
|
)
